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Platinum Enterprises, Inc. had a net income in 2010 of $1.2 million. In 2011, operations suffered after several plants were destroyed following an earthquake, and net income dropped to $650,000. How would this affect the return on equity ratio for 2011? (Assume shareholders' equity remains constant.)

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Platinum Enterprises, Inc. had a net income in 2010 of $1.2 million. In 2011, operations suffered after several plants were destroyed following an earthquake, and net income dropped to $650,000. How would this affect the return on equity ratio for 2011? (Assume shareholders' equity remains constant.)





 
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