Use the following balance sheet and income statement to calculate the firm's return on equity (net income / common equity):

Balance Sheet		Income Statement
Assets:
Cash	$9,000	Sales (all credit)	$255,000
Accounts Receivable	21,000	Cost of Goods Sold	(153,000)
Inventories	19,500
Land	44,000	Operating Expenses	(45,000)
Other Fixed Assets	70,000	Depreciation	(3,000)
Liabilities & Owners' Equity		Interest Expense	(9,000)
Accounts Payable	12,000
Long Term Debt	53,400	Taxes	(15,300)
Common Stock	2,000
Paid in Capital	80,000
Retained Earnings	16,100