The Huff Company presents the following partial list of account balances taken from its December 31, 2016 adjusted trial balance:

Sales (net)	$125000			Operating expenses	$26100
Interest expense	4600			Common stock, $5 par	11000
Cost of goods sold	59000			Retained earnings, 1/1/2016	43000

The following information is also available for 2016 and is not reflected in the preceding accounts:

The common stock has been outstanding all year. A cash dividend of $1.16 per share was declared and paid.

Land was sold at a pretax gain of $6700.

Division X (a major component of the company) was sold at a pretax gain of $4620. It had incurred a $9460 pretax operating loss during 2016.

A tornado, which is an unusual event in the area, caused a $5330 pretax loss.

The income tax rate on all items of income is 30%.

The average shareholders equity is $90000.

Required:

1. Prepare a 2016 multiple-step income statement for Huff. Round earnings per share computations to two decimal places.

2. Prepare a 2016 retained earnings statement.

3. Compute the 2016 return on common equity. Round to one decimal place.