Question - Academy Driving School reported the following amounts in its financial statements:
Year 1 Year 2
Number of common shares 13,100 13,100
Net income $47,160 $42,160
Cash dividends paid on common stock $2,400 $2,400
Total stockholders' equity $400,000 $380,000
Calculate EPS and ROE for year 2. (Round EPS to 2 decimal places and ROE to 1 decimal place.)