The comparative income statement and balance sheet of Cowan Kitchen Counters, Inc. are sho 20-1 Cowan Kitchen Counters, Inc. Comparative Income Statement For Years Ended December 31, 20-2 and 20-1 20-2 Net Sales (all on account) $2,584,000 Cost of goods sold 1,868,200 Gross profit $715,800 Operating expenses 315,200 Other expense interest) 24,200 Income tax expense 176,800 Net income $199,600 $2,163,000 1,616,800 $546,200 221,800 24,200 106,300 $193,900 20-1 Cowan Kitchen Counters, Inc. Comparative Balance Sheet December 31, 20-2 and 20-1 20-2 Cash $255,400 Government notes 250,000 Accounts receivable (net) 903,500 Merchandise inventory 983,600 $243,200 250,000 797,500 913,600 143,200 Supplies and prepayments Land Building (net) Office equipment (net) Total assets 108,200 330,000 17,700 $2,991,600 47,500 108,200 390,600 15,000 $2,765,600 Current liabilities (accounts payable) Bonds payable Total liabilities $703,000 220,000 $923,000 $532,000 240,000 $772,000 Common stock ($10 par, 180,000 shares) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $1,800,000 268,600 $2,068,600 $2,991,600 $1,800,000 193,600 $1,993,600 $2,765,600 Compute ROE for 20-2 using its three basic components (round all calculations to two decimal places)