Manolo, Inc. 2017 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income $10,000 7,950 470 $ 1,580 100 $ 1,480 518 $ 962 Cash Accounts rec. Inventory Total Net fixed assets Manolo, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 $ 280 $ 315 Accounts payable 1,110 1,010 Long-term debt 1,780 1,745 Common stock $3,170 $3,070 Retained earnings 3,520 4,060 $6,690 $7,130 Total liab. & equity 2016 2017 $1,610 $1,805 1,070 1,395 3,360 3,030 650 900 Total assets $6,690 $7,130 What is the return on equity for 2017