3.Return on total assets.(Round your percentage answer to 1 decimal place (i.e., 0.1234 should be entered as 12.3).)

Exercise 15-9 FinanCIal Ratios for Assessing Protability and Managing Debt [L015-4. LO155] Tne financiai slalemems fai Castile Products Inc are given beiow Caslrie Products, Inc, B aiance Sheet Decem her 31 Assels Current as sets Cas ii Accounis receivabie, nei Meicnandise inveniory Prepaid expenses Tmai current assets Properly and equipmem nei Tutsi asseis Liabilities and Stockholders Equity Liabiiiiies Cuneni liabiiities Bonds payable 12% Toiai iiapiiiiia Stockheiders' eqpiiy Common smck. 55 Dari/aim: Retained earnings Tmai stackhoideis' equity Teiai iiabiiies arid stockiieideis' equity CaSIiIe Pmducis, inc Income Slalenaenl For me Year E nded December 3! Sales Cost of gouds sold Gross margin Seliing and adminisiiaiive expenses Nel pperaiirig income inieresi expense Nel inc Lime helore taxes Incnrneiaxes (30%) Net incume Accnunt baiances ai the beginning ei iiie yearwere accounis ieceivabie 5230 um, and inveniory $230 000, Ali saies weie on account Assets at the beginning ul me yea! lmaied 51 010,000 and the siockhoiders' equity (oiaied 5715 000 Required: $2 250 nun 1,220an 1,050 nun 600000 450 000 39 600 420 400 126 120 5 284 280 3 2i nun 200000 320 000 7000 548 000 820 000 M 368 000 $ 7.20 000 330 000 550.000 $ 130.000 688 000 Bin $i 368000