You are given with the following information, regarding Mike sports company-

INCOME			BALANCE SHEET
Sales	$ 1,293,000		Cash		$ 1,500,000
Less: cost of sales	$ 517,200		Accounts receivable		$ 85,000
Gross profit	$ 775,800		Inventory		$ 1,325,000
Less: operating costs	$ 150,000		Total current assets		$ 2,910,000
Operating profit	$ 625,800		Gross fixed assets		$5,750,000
Less: financial expenses	$ 15,000		(Accumulated depreciation)		($4,220,500)
Profit before tax	$ 610,800		Net fixed assets		$ 1,529,500
Less: taxes (37%)	$ 225,996		Total assets		$ 4,439,500
Net income after tax	$ 384,804		Debts payable		$ 238,500
			Taxes payable		$ 366,000
			Short Term Laiabilites		$ 604,500
			Long-term debt		$ 1,646,500
			Long-term liabilities		$ 1,646,500
			Total liabilities		$2,251,000
			Stockholders' equity		$ 2,000,000
			Retained earnings		$ 188,500
			Total stockholders' equity		$ 2,188,500
			Total liabilities and stockholders' equity		$ 4,439,500

Calculate: the Return on Equity