Firm L had net assets at the end of the year of $415,000. The only transactions affecting stockholders' equity during the year were net income of $59,000 and dividends of $29,000. Required: Calculate Firm L's average stockholders' equity and return on equity (ROE). Average Stockholders' Equity / Average Stockholders' Equity Return on Equity = Return on Equity At the beginning of the year, the net assets of Shannon Co. were $365,300. The only transactions affecting stockholders' equity during the year were net income of $47,500 and dividends of $13,000. Required: Calculate Shannon Co.'s return on equity (ROE) for the year. (Round your answer to 1 decimal place.) Return on equity %