Use the following information to calculate the firm's return-on-equity (ROE) as of the end of 2022:
Income Statement
For the Year 2022
Net Sales
$ 100,000
Cost of Goods Sold (COGS)
$ 77,000
Depreciation Expense
$ 8,435
EBIT
$ 14,565
Interest Expense
$ 2,782
EBT
$ 11,783
Tax Expense
$ 2,474
Net Income
$ 9,309
Balance Sheet
Beginning of 2022
End of 2022
Cash
$ 3,750
$ 4,500
Accounts Receivable
$ 9,140
$ 8,615
Inventory
$ 2,390
$ 2,640
Net Fixed Assets
$ 100,670
$ 120,500
Total Assets
$ 115,950
$ 136,255
Accounts Payable
$ 2,360
$ 3,330
Long-term Debt
$ 75,190
$ 92,725
Common Stock
$ 7,500
$ 8,200
Accumulated Retained Earning
$ 30,900
$ 32,000
Total Liabilities and Equity
$ 115,950
$ 136,255
Note: Report your answers as a percentage (i.e. 1.23, not 0.0123). Do not include a percentage sign in your
answer.