You have gathered the following information for a company:

Income Statement
	Year Ended June 30,
	2022
Net income	12
Dividends	0
Balance Sheet
	As of June 30,
	2021
Total assets	100
Total shareholders' equity	50

You expect this company to maintain constant return on equity, payout ratio, and mixture of debt and equity in perpetuity.

a. What is this companys return on equity during the 2022 fiscal year?

b. What book value of equity would you expect this company to report on June 30, 2023?