127) 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) S 20 $ 16 Net sales S 115 100 Cost of goods sold $ 60 55 Net income S 20 17 Inventory turnover 5.22 Return on assets 10.3% Equity multiplier 2.36 Dowling's return on equity for 2021 is (rounded): A) 22% B) 24.3% C) 17.4% D) 9% 128) 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) S $ 16 Net sales S 115 100 Cost of goods sold $ 60 55 Net income s 20 17 Inventory tumover 5.22 Return on assets 10.396 Equity multiplier 2.36 Dowling's average total assets for 2021 is (rounded) A) 32 B) 210 C) 115 D) 194 129) 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) $ 20 $ 16 Net sales $ 115 100 Cost of goods sold 60 35 Net income 20 17 Inventory tumover 5.22 Return on assets 10.3% Equity multiplier 236 Dowling's average inventory balance for 2021 is (rounded): A) 11. B) 12 C) 11.5 D) 125