Shown below are selected data from the financial statements of Supreme Co. Dollar amounts are in millions (except for the per share data). Income statement data:

net sales-$1,230

cost of good solds- $ 520

Operating expenses- $440

net income- $390

Balance Sheet data:

average total equity- $2400

average total assets- $4000 Supreme reported earnings per share for the year of $4 and paid cash dividends of $1 per share. At year-end, the Wall Street Journal listed Supreme's capital stock as trading at $88 per share. Refer to the information above.Supreme's return on equity was