5) Flitter reported net income of $17,500 for the past year. At the beginning of the year the company had $200,000 in assets and $50,000 in liabilities. By the end of the year, assets had increased to $300,000 and liabilities were $75,000. Calculate its return on assets: A) 8.8% B) 7.0% C) 5.8% D) 35.0% E) 23.3% 5)