Galaxy United, Inc. 2009 Income Statement ($ in millions)
Net sales	$8,450
Less: Cost of goods sold	7,150
Less: Depreciation	400
Earnings before interest and taxes	900
Less: Interest paid	82
Taxable Income	818
Less: Taxes	286
Net income	$ 532

Galaxy United, Inc. 2008 and 2009 Balance Sheets ($ in millions)
	2008	2009			2008	2009
Cash	$ 120	$ 140		Accounts payable	$1,120	$1,140
Accounts rec.	940	790		Long-term debt	980	1,299
Inventory	1,490	1,520		Common stock	$3,100	$2,900
Sub-total	$2,550	$2,450		Retained earnings	500	731
Net fixed assets	3,150	3,620
Total assets	$5,700	$6,070		Total liab. & equity	$5,700	$6,070

What is the return on equity for 2009?

rev: 01_14_2016_QC_CS-37830

13 percent16 percent10 percent18 percent15 percent