5: Homework Assignment Saunders, Incorporated, recently reported the following December 31 amounts in its financial statements (dollars in thousands) Gross profit Current Year Prior Year $370 $310 Net income 150 75 Total assets 1,120 1,060 Total shareholders' equity 948 740 Required: Compute return on assets for the current year. What does this ratio measure? Complete this question by entering your answers in the tabs below. Required la Required 1b Compute return on assets for the current year. Note: Enter your answer as a percentage rounded to 1 decimal place (1.e., 0.123 should be entered as 12.3). Retum on assets Required 12 Required 1b >