Galaxy United, Inc. 2009 Income Statement ($ in millions)
Net sales	$8,500
Less: Cost of goods sold	7,180
Less: Depreciation	420
Earnings before interest and taxes	900
Less: Interest paid	79
Taxable Income	821
Less: Taxes	287
Net income	$ 534

Galaxy United, Inc. 2008 and 2009 Balance Sheets ($ in millions)
	2008	2009			2008	2009
Cash	$ 110	$ 160		Accounts payable	$1,110	$1,150
Accounts rec.	940	780		Long-term debt	950	1,267
Inventory	1,470	1,520		Common stock	$3,130	$2,930
Sub-total	$2,520	$2,460		Retained earnings	510	743
Net fixed assets	3,180	3,630
Total assets	$5,700	$6,090		Total liab. & equity	$5,700	$6,090

What is the return on equity for 2009?

rev: 01_14_2016_QC_CS-37830

13 percent18 percent10 percent15 percent16 percent