What is Ratio Corporation's Fiscal 2021 Return on Equity?

Question 13 options:

	31.88%
	48.84%
	53.53%
	35.18%

RATIO CORPORATION BALANCE SHEET December 31 ASSETS 2021 2020 Current Assets Cash $20,000 $10,000 Marketable Securities $18,000 $13,000 Accounts Receivable 8,000 5,000 Merchandise Inventory 30,000 25,000 Other Current Assets 4,000 5,000 Total Current Assets $80,000 $58,000 Noncurrent Assets Buildings and Equipment (cost) $550,000 $500,000 Accumulated Depreciation (210,000) (200,000) Buildings and Equipment (net) $340,000 $300,000 TOTAL ASSETS $420,000 $358,000 LIABILITIES & SHAREHOLDERS EQUITY Current Liabilities Accounts Payable Wages Payable Other Payables Total Current Liabilities Noncurrent Liabilities Bonds Payable TOTAL LIABILITIES $18,000 11,000 9,000 $38,000 $15,000 1,000 12,000 $28,000 $208,000 $246,000 $160,000 $188,000 Shareholders' Equity Common Stock APIC Retained Earnings Total Shareholders' Equity TOTAL LIAB. & SHAREHOLDERS' EQUITY $4,000 $70,000 100,000 $174,000 $2,000 $50,000 118,000 $170,000 $420,000 $358,000 RATIO CORPORATION INCOME STATEMENT Year End 12/31/2021 Net Sales CGS Profit Margin SG&A Operating Income Interest Expense Pre-Tax Income Tax Expense @ 40% Net Income $1,000,000 (800,000) 200,000 (20,000) 180,000 (40,000) 140,000 (56,000) $84,000