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Degollado Corporation's most recent income statement appears below: Income Statement For the Year Ended December 31 Sales (all on account) $ 144,868 Cost of goods
Degollado Corporation's most recent income statement appears below: Income Statement For the Year Ended December 31 Sales (all on account) $ 144,868 Cost of goods sold 64,868 Gross margin 86,868 Selling and administrative expenses 34,868 Net operating income 46,868 Interest expense 14,868 Net income before taxes 32,868 Income taxes (38%) 9,668 Net income $ 22,468 The beginning balance of total assets was $203,000 and the ending balance was $223,000. Required: Compute the return on total assets. (Round your "Percentage" answer to 2 decimal places.)
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