Average Total Assets, Return on Assets

Juroe Company provided the following income statement for last year:

Sales	$11,600,000
Cost of goods sold	3,000,000
Gross margin	$8,600,000
Operating expenses	3,800,000
Operating income	$4,800,000
Interest expense	1,000,000
Income before taxes	$3,800,000
Income taxes	1,400,000
Net income	$2,400,000

Juroe's balance sheet as of December 31 last year showed total liabilities of $11,050,000, total equity of $7,150,000, and total assets of $18,200,000.

Also, assume that Juroe's total assets at the beginning of last year equaled $17,350,000 and that the tax rate applicable to Juroe is 40%.

Required:

1. Calculate the average total assets. $

2. Calculate the return on assets. Round your answer to two decimal places. %