Please help w/ return on equity problem

PLEASE HELP WITH THIS PROBLEM.. I HAVE TO SHOW ALL MY WORK AND I CAN'T FIGURE THIS OUT. I NEED SOMEONE TO WRITE IT OUT FOR ME.(Worried) THANKS SOO MUCH..IF YOU COULD PLEASE HELP.
OKAY HERE IT IS:



THE NET INCOME FOR MOORE CORPORATION WAS 1,500,000 AND THE RETURN ON EQUITY WAS 21. WHAT IS THE AMOUNT OF EQUITY TO THE NEAREST DOLLAR?

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Originally Posted by shell26

PLEASE HELP WITH THIS PROBLEM.. I HAVE TO SHOW ALL MY WORK AND I CAN'T FIGURE THIS OUT. I NEED SOMEONE TO WRITE IT OUT FOR ME.(Worried) THANKS SOO MUCH..IF YOU COULD PLEASE HELP.
OKAY HERE IT IS:



THE NET INCOME FOR MOORE CORPORATION WAS 1,500,000 AND THE RETURN ON EQUITY WAS 21. WHAT IS THE AMOUNT OF EQUITY TO THE NEAREST DOLLAR?

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Use this formula $\displaystyle ROE = \frac{NI}{equity}$

So, $\displaystyle 21 = \frac{1500000}{equity}$ Solve for equity.