Profitability Ratios The following data came from the financial statements of Israel Company: ...
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Accounting
Profitability Ratios
The following data came from the financial statements of Israel Company:
| Revenue | $900,000 |
| Expenses | 623,000 |
| Net income | 277,000 |
| Assets | 600,000 |
| Liabilities | 100,000 |
| Average Equity | 500,000 |
Required:
Compute Israel's return on equity (in percentage terms, rounded to two decimal places)
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