Use the DuPont system and the following data to find return on equity. (Round your answer to 1 decimal place.) Leverage ratio 2.2 Total asset turnover 2.0 Net profit margin 5.5 % Dividend payout ratio 31.8 %

Kinc. has provided the following data for the month of may: inventories: beginning ending work in process $ 17,000 $ 12,000 finished goods $ 46,000 $ 50,000 additional information: direct materials $ 57,000 direct labor cost $ 87,000 manufacturing overhead cost incurred $ 63,000 manufacturing overhead cost applied to work in process $ 61,000 any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. the adjusted cost of goods sold that appears on the income statement for may is: