Table:
| RELATIVE IMPORTANCE OF SPEND ON PAY |  |  |  |
| --- | --- | --- | --- |
| Expenditure USDm | 2019 | 2018 | 2017 |
| Dividends paid | - | - | 1.2 |
| Purchase of outstanding treasury shares in TORM A/S | - | - | - |
| Purchase/disposals of treasury shares | - | - | - |
| Total | - | - | 1.2 |
| Staff costs | 45.8 | 46.2 | 43.8 |
| Retained earnings | 920.0 | 752.0 | 786.0 |
Paragraphs:
REMUNERATION COMMITTEE REPORT
The table above shows the actual expenditure of the Group for employee pay and distributions to shareholders compared to the retained earnings of the Group.
Question:
What was the percentage change in retained earnings in 2019 from 2018?
Answer: (920.0-752.0)/752.0 = 22.34