PRACTICE QUESTION#11 Given the following Year 12 Financial Statement data for a footwear company:

59,000

Total Shareholder Equity 160,000 +29,000 189,000

Based on the above figures, the company’s ROE in Year 12 was

1. 42.3%.
2. 14.0%.
3. 28.1%.
4. 25.9%.
5. None of these.

The answer seems 3, but I do not know how I can get that answer. Please indicate how I can get that answer.