Ostuni Limited is a Niagara-on-the-Lake, Ontario-based winery producing blended, premium, and ultrapremium wines, which are sold globally. The company has a strong distribution network in Canada through independent retail locations. The following information has been extracted from the company's annual report. 2020 2019 2018 Market price per share $10.80 $6.89 $5.05 Earnings per share $0.59 $0.44 $0.33 Dividends per share $0.159 $0.140 $0.133 Net income in thousands) $21,511 $15,514 $12,142 Shareholders' equity (in thousands) $178,731 $158,807 $146,612 Your answer is partially correct. Calculate Ostuni's return on equity ratio for 2019 and 2020. Note that Ostuni's articles of incorporation authorize only common shares. 2020 2019 Return on equity ratio % % Comment on how effectively Ostuni's management has been able to use the equity of its shareholders to generate returns. The company is using its equity to generate returns more efficiently in 2020 than in 2019. e Textbook and Media