| Question 1 of 224.54 Points | Assets | | 2017 | 2016 | | Cash | | 60,000 | 20,000 | | Accounts receivable (net) | 50,000 | 30,000 | | Inventory | 30,000 | 20,000 | | Property, plant and equipment (net) | 220,000 | 170,000 | | | Total assets | 360,000 | 240,000 | | | | | | | Liabilities | | | | Current liabilities | 60,000 | 10,000 | | Long-term liabilities | 100,000 | 30,000 | | Owners Equity | | | | Common Stock | 120,000 | 150,000 | | Retained Earnings | 80,000 | 50,000 | | | Total liabilities and owners equity | 360,000 | 240,000 | | | | | | | Net sales | 500,000 | | | Cost of goods sold | 280,000 | | | Gross profit | 220,000 | | | Operating expenses | 160,000 | | | Net income | 60,000 | | What is the return on equity in 2017? |
