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Assume that all balance sheet amounts represent average balance figures for a fiscal year. The company has not issued preferred stock. Total assets: $400,000

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Assume that all balance sheet amounts represent average balance figures for a fiscal year. The company has not issued preferred stock. Total assets: $400,000 Common stock: $50,000 Additional Paid-in Capital: $150,000 Retained Earnings: $35,000 Sales: $620,000 Net income: $82,000 What is the company's return on assets? a. 20.5% b. 34.9% Oc 5.6% d. 13.2%

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