On 31 December 20X2, the balances of Argon Enterprises Inc.s shareholders equity accounts were as follows (all are credit balances):

Capital stock	$ 302,000
Contributed surplus	4,870
Retained earnings	98,200
Currency translation differences	1,300
Mark-to-market adjustments on available for sale investments	24,800
Cash flow hedges	1,800
Actuarial gains and losses	1300
	$434,270

Argons statement of comprehensive income for the year ending 31 December 20X3 showed the following amounts, from net profit for the year through comprehensive income:

	31 December 20X3	31 December 20X2
Net profit for the year	$ 43,800	$ 66,500
Other comprehensive income (loss)net of applicable income tax:
Currency translation differences	(4,100 )	2,800
Mark-to-market adjustments on available for sale investments	(33,500 )	8,000
Actuarial gains (losses)	2,000	(6,500 )
Cash flow hedges	(500 )	(170 )
Total other comprehensive loss for the year	(36,100 )	4,130
Comprehensive income for the year	$ 7,700	$ 70,630

Assume that the assets of Argon Enterprises Inc. totalled $2,127,100 at the end of 20X1, $1,879,900 at year-end 20X2, and $2,277,300 at year-end 20X3. Required: 1. Assume you are analyst for a private equity firm.

Determine the following for each of 20X2 and 20X3: (Round your answers to 2 decimal places. (i.e., .2345 should be entered as 23.45).)

a. Return on Shareholder's equity

b. Return on invested capital