Exercise 3-13 (Static) Calculate ROE LO 4 At the beginning of the year, the net assets...

Transcribed Image Text:

Exercise 3-13 (Static) Calculate ROE LO 4 At the beginning of the year, the net assets of Shannon Co. were $617,900. The only transactions affecting stockholders' equity during the year were net income of $60,800 and dividends of $16,600. Required: Calculate Shannon Co.'s return on equity (ROE) for the year. (Round your answer to 1 decimal place.) Return on equity % Exercise 3-13 (Static) Calculate ROE LO 4 At the beginning of the year, the net assets of Shannon Co. were $617,900. The only transactions affecting stockholders' equity during the year were net income of $60,800 and dividends of $16,600. Required: Calculate Shannon Co.'s return on equity (ROE) for the year. (Round your answer to 1 decimal place.) Return on equity %