FGT Motorsports Had Net Assets at the End of the Year

question 2

Essay

FGT Motorsports had net assets at the end of the year of $320,000.The only transactions affecting stockholders' equity during the year were net income of $51,000 and dividends of $11,000.
Required:
Calculate FGT Motorsports' average stockholders' equity and return on equity (ROE).

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