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FirmL had net assets at the end of the year of $380,000. The only transactions affecting stockholders' equity during the year were net income of

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FirmL had net assets at the end of the year of $380,000. The only transactions affecting stockholders' equity during the year were net income of $73,000 and dividends of $43.000 Required Calculate Firm L's average stockholders' equity and return on equity (ROE). Beginning stockholders' equity Average Stockholders' Equity Ending stockholders' equity 1 380,000 Average Stockholders' Equity 2 2 Net Income $ Return on Equity Average stockholders' equity 73,000/ Return on Equity 0

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