Use the following information to answer this question. Bayside, Incorporated 2022 Income Statement (in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts receivable Inventory Total Net fixed assets Total assets What is the return on equity for 2022? Multiple Choice 21.75% 2021 $ 5,940 4,190 355 $ 1,395 31 2022 $ 1,364 409 $ 955 Bayside, Incorporated 2021 and 2022 Balance Sheets (in millions) $ 110 $ 215 970 1,685 810 2,030 $ 2,765 $ 3,055 3,680 3,410 $ 6,445 $ 6,465 Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity 2021 $ 1,555 800 3,220 870 $ 6,445 2022 $ 1,475 600 3,270 1,120 $ 6,465

Use the following information to answer this question. What is the return on equity for 2022? Multiple Choice 21.75% What is the return on equity for 2022? Multiple Choice 21.75% 22.55% 23.35% 14.77% 31.07%