The condensed balance sheet and income statement for Marjoram Company are presented below. MARJORAM COMPANY Balance Sheet At December 31, 2021 Cash Notes receivable (due August 15, 2022) Accounts receivable (net) Inventory $19,000 35,000 48,400 78,600 Property, plant, and equipment (net) 250,000 Intangible assets 12,400 Total assets $435,400 Current Liabilities $108,400 Bonds payable (11%) (long-term) Common stock Retained earnings Total Liabilities and equity 100,000 70,000 157,000 $435,400 MARJORAM COMPANY Incone Statement For the Year ended December 31, 2021 Sales Cost of goods sold Gross profit Operating expenses Operating income Interest expense Income before income tax Income tax expense Net income Required: $784,000 422,400 $281,600 166,200 $115,400 11,000 $104,400 31,320 $73,080 Compute the return on shareholders' equity ratio for Marjoram Company. (Round your percentage answer to nearest whole percent.) Retum on shareholders' equity