Assume a company provided the following excerpts from its balance sheet and income statement as shown below Current assets Ending Balance $120,000 Beginning Balance $140,000 Total assets $480,000 $380,000 Current liabilities $ 80,000 $ 70,000 Total liabilities $174,600 $174,000 Total stockholders' equity $305,400 $206,000 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Interest expense Net income before taxes Income taxes Net income $1,000,000 600,000 400,000 250,000 150,000 8,000 142,000 42,600 $ 99,400 If the tax rate is 30%, then the return on assets would be closest to: If the tax rate is 30%, then the return on assets would be closest to: Multiple Choice 20.5%. 19.8%. O 21.7%. O 24.4%