#1) Excerpts from Sonoma Company's December 31, 20x2 and 20x1, financial statements are presented below:20x2 20x1 Accounts receivable $ 42,000 $ 37,000Merchandise inventory 29,000 37,000Net sales 213,300 200,000Cost of goods sold 116,000 109,000Total assets 427,000 406,000Total shareholders' equity 242,000 226,000Net income 34,000 29,000What is Sonoma's return on assets for 20x2 (round to one decimal place)?

14.0%.

8.2%.

50.0%.

7.3%.

#2) Technoid, Inc.'s balance sheet and income statement are shown below.Technoid, Inc.Balance SheetAt December 31, 20x1Cash $ 21,000Notes receivable (due September 10, 20x2) 33,000Accounts receivable (net) 49,200Merchandise inventory 71,800Property, plant, and equipment (net) 270,000Intangible assets 13,200Total assets $ 458,200Current liabilities $ 104,600Bonds payable(10%) (long-term) 120,000Common stock 74,000Retained earnings 159,600Total liabilities and equity $ 458,200Technoid, Inc.Income StatementFor the Year ended December 31, 20x1Sales $ 764,000Cost of goods sold 442,400Gross profit $ 321,600Operating expenses 171,000Operating income $ 150,600Interest expense 12,000Income before income tax $ 138,600Income tax expense 41,580Net income $ 97,020Required:Compute Technoid's acid-test ratio. (Round your answer to 2 decimal places.)