Following Information Taken Crazy Corporation Financial Statements End Year 2 Net Sales 50 Q17779350

The following information was taken from Crazy A Corporationfinancial statements as of the end of Year 2.

Net sales
$500,000

Cost of goods sold
  300,000

Operating expenses
  100,000

Interest expense
   58,000

Income taxes expense
   12,000

Total assets
180,000
Year 1 ending balance
$150,000

Total liabilities
120,000
Year 1 ending balance
$100,000

Total equity
   60,000
Year 1 ending balance
$  45,000

Crazy A’s return on equity is:
 
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