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Comparative financial statements for Weller Corporation I can't seem to figure out the Return on Total Assets. At first I got 8.8 and that was

Comparative financial statements for Weller Corporation

I can't seem to figure out the Return on Total Assets. At first I got 8.8 and that was incorrect so I need help with that portion of the problem

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Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below The company did not issue any new common stock during the year. A total of 860,000 shares of common stock were outstanding. The interest rate on the bond payable was 12%, the income tax rate was 40%, and the dividend per share of common stock was $0.75 last year and $0.40 this year. The market value of the company's common stock at the end of the year was $21. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year Assets Current assets: Lash Accounts receivable, net Inventory Prepaid expenses $ 976 $1,920 10,050 8,440 2,220 21583622,630 15,000 10,000 1,860 Total current assets Property and equipment: Land Buildings and equipment, net Total property and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: 6,600 19,600 26, 200 $54,236 $48,830 6,600 19,800 26,400 100 720 360 11,180 8,600 1,000 360 9,960 Accounts payable $10,1 Accrued liabilities Notes payable, short term Total current liabilities Long-term liabilities: Bonds payable Total liabilities Stockholders' equity: 6,250 17,430 6,250 16,210 Common stock Additional paid-in capital Total paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders equity 860 4,500 5,360 31,446 860 4,500 5,360 27,260 32,620 $48,830 36,80635 $54,236 Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands) This Year Last Year Sales Cost of goods sold Gross margin Selling and administrative expenses: $85,000 30,000 9,100 $80,000 51,000 29,000 55,000 S Selling expenses 8,600 11,600 20,200 8,800 750 8,050 3,220 4,830 688 4,142 23,118 $31,446 $27,260 12,6005 Administrative expenses Total selling and administrative expenses Net operating income Interest expense Net income before taxes Income taxes Net income Dividends to common stockholders Net income added to retained earnings Beginning retained earnings 21,700 8, 300 750 7,550 3,020 4,530 344 4,186 27,260 Ending retained earnings Required: Compute the following financial data for this year 1. Gross margin percentage. (Round your percentage answer to 1 decimal place (ie., 0.1234 should be entered as 12.3.) 2. Net profit margin percentage. (Round your percentage answer to 1 decimal place (i.e., 0.1234 should be entered as 12.3).) 3. Return on total assets. (Round your percentage answer to 1 decimal place (i.e., 0.1234 should be entered as 12.3).) 4. Return on equity. (Round your percentage answer to 2 decimal places (i.e., 0.1234 should be entered as 12.34).) 1. Gross margin percentage 2. Net profit margin percentage 3. Return on total assets 4. Return on equity 35.31% 5.31% 13.05%

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