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Exercise 18-24(Algo) Profitability ratio [LO18-1] Comparative balance sheets for Softech Canvas Goods for...

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Accounting

Exercise 18-24(Algo) Profitability ratio [LO18-1]
Comparative balance sheets for Softech Canvas Goods for 2024 and 2023 are shown below. Softech pays no dividends and instead reinvests all earnings for future growth.
Comparative Balance Sheets
($ in thousands)
Required:
Determine the return on shareholders' equity for 2024.
What does the ratio measure?
Complete this question by entering your answers in the tabs below.
Determine the return on shareholders' equity for 2024.
Note: Round your answer to 2 decimal places.
Retum on shareholders' equity
%
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