(Answered) Question comparative balance sheets for softech canvas

Accounting

Question: Comparative balance sheets for Softech Canvas Goods for 2011 and 2010 are shown below. Softech pays no dividends, and instead reinvests all earnings for future growth.

Comparative Balance Sheets ($ in 000s)
	December 31
	2011	2010
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: Determine the return on shareholders' equity for 2011.

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