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4) Apollo Corp. reported the following balance sheet: Cash $28,000 Accounts payable $5,000 Accounts receivable 15,000 Notes Payable 12,000 Inventory 45,000 Accruals 17,000 Net

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4) Apollo Corp. reported the following balance sheet: Cash $28,000 Accounts payable $5,000 Accounts receivable 15,000 Notes Payable 12,000 Inventory 45,000 Accruals 17,000 Net Fixed Assets 112,000 Long-Terms Debt 45,000 Common Stock 10,000 Retained Earnings 111,000 Total assets $200,000 Total Liab. & Equity $200,000 Apollo has sales of $600,000 and net income of $50,000. Apollo's return on equity is A) 38.17%. B) 5.00%. C) 41.32%. D) 45.05%.

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