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Last year Pierson Building Center had sales of $22782 and a net income of $1822.56, and its year-end total assets were $145534. The firm's total-debt-to-total-

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Last year Pierson Building Center had sales of $22782 and a net income of $1822.56, and its year-end total assets were $145534. The firm's total-debt-to-total- capital ratio was 45%. The firm finances using only debt and common equity and its total assets equal total invested capital. Based on the DuPont equation, what was the return on equity (ROE)? 1.24% O 3.4% o o o o o O 2.27% 1.7% 04.08%

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