Consider the following Year 3 Year 2 Year 1 Total assets $90,000 $98,000 $48,000 Total liabilities $30,000 $40,000 $5,000 Total stockholders' equity $60,000 $58,000 $53,000 Net sales $96,000 $80,000 $40,000 Operating income $32,000 $25,000 $10,000 Use the information above. Calculate the return on assets (ROA) for Year 3, to the nearest tenth Select one O a. 35,6% O b. 34.0% O c. 10.2% O d. 32.7% 2004 2003 2002 2001 Sales $ 120,000 $ 105,000$ 95,000 S 80,000 Cost of Goods Sold $ 71,000 $ 62,500 $ 53,000 $ 45,000 Gross Profit $ 49,000 $ 42,500 $ 42,000$ 35,000 Net Income $ 26,500 $ 24,000 $ 23,500 $ 22,500 Use the above information. Which of the following statements is not true= Select one O a. Net income as a percentage of sales had decreased since 2001 O b. Gross profit $ have increased 40% since 2001 O c. Net income has increased 17.78% since 2001 Od Sales have increased 100% since 2001 O e. None of the above