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  3. at the beginning of the year, the net assets of sh

At the beginning of the year, the net assets of Shannon Company were $349,400. The...

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Accounting

At the beginning of the year, the net assets of Shannon Company were $349,400. The only transactions affecting stockholders' equity during the year were net income of $50,000 and dividends of $17,000

Calculate Shannon Company's return on equity (ROE) for the year.

Note: Round your answer to 1 decimal place.

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\table[[\table[[Vaughn Inc.],[Balance Sheets]]],[,Dec. 31,2025,Jan. 1,2025,Inc./Dec.],[Assets,,,,],[Cash,$44,100,$12,740,$31,360,Inc.],[Accounts receivable,89,180,86,240,2,940,Inc.],[Equipment,38,220,21,560,16,660,Inc.],[Less: Accumulated depreciation-equipment,16,660,10,780,5,880,Inc.],[Total,$154,840,$109,760,,],[Liabilities and Stockholders' Equity.,,,,],[Accounts payable,$19,600,$14,700,$4,900,Inc.],[Common stock,98,000,78,400,19,600,Inc.],[Retained earnings,37,240,16,660,20,580,Inc.],[Total,$154,840,$109,760,,]] ...

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