Firm $L$ had net assets at the end of the year of $$415,000.$ The only items affecting stockholders' equity during the year were net income of $$76,000$ and dividends of $$46,000.$

Required:

Calculate Firm L$\text{'}$s average stockholders' equity and return on equity $($ROE$).$

$\backslash$table$[[$Average Stockholders' Equity$],[$Choose Addend:,$+,$Choose Addend:,,,Average Stockholders' Equity$],[7,+,,i,=,$Average Stockholders' Equity$],[7,+,7,1,=,],[$Return on Equity$],[$Choose Numerator:,$1,$Choose Denominator:,$=,,$Return on Equity$],[p,1,,=,,$Return on Equity$],[,1,$F$,=,,]]$