Firm L had net assets at the end of the year of $365,000. The only transactions affecting stockholders equity during the year were net income of $56,000 and dividends of $26,000.

Required:

Calculate Firm Ls average stockholders equity and return on equity (ROE).

Average Shareholder Equity:

Choose numerator:	+	Choose demonimator	/		=	Average Shareholder equity
	+		/		=

Return on Equity:

Choose numerator:	+	Choose demonimator	/		=	Return on Equity
	+		/		=