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Markus Companys common stock sold for $2.75 per share at the end of this year....

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Accounting

Markus Companys common stock sold for $2.75 per share at the end of this year. The company paid a common stock dividend of $0.55 per share this year. It also provided the following data excerpts from this years financial statements:
Ending Balance Beginning Balance
Cash $35,000 $30,000
Accounts receivable $60,000 $50,000
inventory $55,000 $60,000
current assets $150,000 $140,000
total assets $450,000 $460,000
current liabilities $60,000 $40,000
total liabilities $130,000 $120,000
common stock, $1 par value $120,000 $120,000
total stockholder's equity $320,000 $340,000
total liabilities and stockholders equity $450,00 $460,000
THIS YEAR
Sales ( all on account ) $700,000
Cost of goods sold $400,000
Gross margin $300,000
Net operating income $140,00
Interest expense $8,000
Net income $92,400

5. What is the return on equity?

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