12.The following information pertains to Newman Company. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit.

Assets
Cash and short-term investments		$ 40,000
Accounts receivable (net)		30,000
Inventory		25,000
Property, plant, and equipment		215,000
Total assets		$310,000

Liabilities and Stockholders' Equity
Current liabilities			$ 60,000
Long-term liabilities			95,000
Stockholders' equityCommon			155,000
Total liabilities and stockholders' equity			$310,000

Income Statement
Sales		$90,000
Cost of goods sold		45,000
Gross margin		$45,000
Operating expenses		20,000
Net income		$25,000

Number of shares of common stock	6,000
Market price of common stock	$40
Dividends per share	$1.00
Cash provided by operations	$40,000

What is the return on total assets for this company?