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Comparative balance sheets for Softech Canvas Goods for 2021 and 2020 are shown below. Softech...

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Accounting

Comparative balance sheets for Softech Canvas Goods for 2021 and 2020 are shown below. Softech pays no dividends and instead reinvests all earnings for future growth.

Comparative Balance Sheets
($ in thousands)
December 31
2021 2020
Assets:
Cash $ 50 $ 40
Accounts receivable 100 120
Short-term investments 50 40
Inventory 200 140
Property, plant, and equipment (net) 600 550
$ 1,000 $ 890
Liabilities and Shareholders Equity:
Current liabilities $ 240 $ 210
Bonds payable 160 160
Paid-in capital 400 400
Retained earnings 200 120
$ 1,000 $ 890

Required: 1. Determine the return on shareholders equity for 2021.

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