Brief Exercise
SUPERVALU, one of the largest grocery retailers in the United States, is headquartered in Minneapolis. Suppose the following financial information (in millions) was taken from the company's 2017 annual report: net sales $43,900, net income $395, beginning stockholders' equity $2,590, and ending stockholders' equity $2,910. There were no dividends paid on preferred stock.
Compute the return on common stockholders' equity. (Round answer to 2 decimal places, e.g. 12.56%.)