Company X has net sales revenue of $1,260,000, cost of goods sold of $775,000, and...
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Accounting
Company X has net sales revenue of $1,260,000, cost of goods sold of $775,000, and all other expenses of $300,000. The beginning balance of stockholders' equity is $500,000 and the beginning balance of fixed assets is $371,000. The ending balance of stockholders' equity is $850,000 and the ending balance of fixed assets is $399,000. Required: Compute the return on equity (ROE) ratio. (Round your answer to the nearest whole percent.)
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