Exercise 3-15 (Algo) Calculate ROE LO 3-4\ At the beginning of the year, the net assets of Shannon Company were

$367,000

. The only transactions affecting stockholders' equity during the year were net income of

$45,500

and dividends of

$17,000

.\ Required:\ Calculate Shannon Company's return on equity (ROE) for the year.\ Note: Round your answer to 1 decimal place.

Exercise 3-15 (Algo) Calculate ROE LO 3-4 At the beginning of the year, the net assets of Shannon Company were $367,000. The only transactions affecting stockholders' equity during the year were net income of $45,500 and dividends of $17,000. Required: Calculate Shannon Company's return on equity (ROE) for the year. Note: Round your answer to 1 decimal place. Exercise 3-15 (Algo) Calculate ROE LO 3-4 At the beginning of the year, the net assets of Shannon Company were $367,000. The only transactions affecting stockholders' equity during the year were net income of $45,500 and dividends of $17,000. Required: Calculate Shannon Company's return on equity (ROE) for the year. Note: Round your answer to 1 decimal place