Spring Doonan Corporation has provided the following financial data from its balance sheet and income statement: Total assets Stockholders' equity: Common stock, $4 par value Additional paid-in capital Retained earnings Total stockholders' equity Interest expense Income taxes (35%) Net income Year 2 $ 1,489,000 Year 1 $ 1,440,000 $ 360,000 $ 360,000 $ 70,000 $ 570,000 $ 1,000,000 $ 15,000 $ 14,162 $ 26,300 The market price of common stock at the end of Year 2 was $4.79 per share. The company's return on equity for Year 2 is closest to: $ 70,000 $ 550,000 $ 980,000 Multiple Choice Help