The following is for Sophia’s Toy Co.: 2024 2023…
The following is for Sophia’s Toy Co.: 2024 2023 Total assets $ 600,000 $400,000 Total liabilities $ 200,000 $ 50,000 Common shares $ 100,000 $ 100,000 Retained earnings $ 300,000 $ 250,000 Net income $ 75,000 $ 50,000 Calculate the Return on Equity in 2024?