Firm L had net assets at the end of the year of $415,000. The only transactions affecting stockholders' eguity during the year were net Income of $65,000 and dividends of $35,000. Required: Calculate Firm L's average stockholders' equity and return on equity (ROE). 3 Average Stockholders' Equity Book Average Stockholders' Equity Return on Equity Return on Equity 2 At the beginning of the year, the net assets of Shannon Co. were $345,600. The only transactions affecting stockholders' equity during the year were net income of $49,000 and dividends of $14,500, Required: Calculate Shannon Co's return on equity (ROE) for the year. (Round your answer to 1 decimal place.) 0.83 points Reum qui %