Excerpts from Dowling Company's December 31, 2021 and 2020, financial statements and key ratios are presented below (all numbers are in millions): 2021 2020 Accounts receivable (net) $ 25 $ 21 Net sales $ 120 $ 105 Cost of goods sold $ 65 $ 60 Net income $ 25 $ 22 Inventory turnover 5.45 Return on assets 10.6 % Equity multiplier 2.41 Dowling's return on equity for 2021 is: (Round your answer to 1 decimal places.)