Can you please break this down for me on how you got the answer? The formula I have is ROE= Net Income/Book of Value Shareholders Equity but I am still getting the wrong answer...

Thank you!

American Bacon Inc. financial statements are presented in the table below.

Based on the information in the table, calculate Return on Common Equity.

Round the answers to two decimal places in percentage form.

Balance Sheet December 31, 2010

Cash and marketable securities$102,000

Accounts payable$287,000

Accounts receivable$299,000

Notes payable$61,200

Inventories$628,000

Accrued expenses$51,900

Prepaid expenses$10,300

Total current liabilities$400,100

Total current assets$1,039,300

Long-term debt$415,000

Gross fixed assets$1,502,000

Par value and paid-in-capital $376,000

Less: accumulated depreciation$312,000

Retained Earnings$1,038,200

Net fixed assets$1,190,000

Common Equity1,414,200

Total assets$2,229,300

Total liabilities and owners equity$2,229,300

Income statement, Year of 2010

Net sales (all credit)$6,387,700.00

Less: Cost of goods sold$4,726,898.00

Selling and administrative expenses$345,000.00

Depreciation expense$148,000.00

EBIT$1,167,802.00

Interest expense$50,600.00

Earnings before taxes$1,117,202.00

Income taxes$446,880.80

Net income$670,321.20