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Comparative balance sheets for Softech Canvas Goods for 2018 and 2017 are shown below. Softech pays no dividends, and instead reinvests all earnings for future
Comparative balance sheets for Softech Canvas Goods for 2018 and 2017 are shown below. Softech pays no dividends, and instead reinvests all earnings for future growth. Comparative Balance Sheets ($ in 000s) December 31 2017 2018 Assets Cash 84 S 116 Accounts receivable Short-tern investments 230 84 210 94 272 420 Inventory 1,040 $1,880 880 Property, plant, and equipment (net) $1,550 Liabilities and Shareholders Equity Current liabilities Bonds payable Paid-in capital Retained earnings 460 270 320 270 730 730 230 420 $1,550 $1,880 Required: 1. Determine the return on shareholders' equity for 2018. (Round your answer to 2 decimal places.) % Return on shareholders' equity
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