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Calculator Use this information for Kellman Company to answer the question that follow The balance sheets at the end of each of the first two

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Calculator Use this information for Kellman Company to answer the question that follow The balance sheets at the end of each of the first two years of operations indicate the following: Kellman Company Year 2 Year 1 Total current assets $610,400 $556,800 Total investments 64,100 49,800 Total property, plant, and equipment 946,100 790,400 Total current liabilities 106,900 88,700 Total long-term liabilities 284,200 226,500 Preferred 9% stock, $100 par 84,100 84,100 Common stock, $10 par 564,700 564,700 Paid in capital in excess of par-Common stock 61,500 61,500 519,200 371,500 Retained earnings Using the balance sheets for Kellman Company, if net income is $103,900 and interest expense is $31,500 for Year 2, what is the return on total assets for the year (rounded to two decimal places)? a. 7.44% b. 8.97% c. 6.41% d. 4.80%

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