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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) Cost of goods sold Gross
Degollado Corporation's most recent income statement appears below: Income Statement For the Year Ended December 31 Sales (all on account) Cost of goods sold Gross margin Selling and administrative expenses Net operating income Interest expense Net income before taxes Income taxes (30%) Net income $145,000 65,000 80,000 36,000 44,000 15,000 29,000 8,700 $ 20,300 The beginning balance of total assets was $205,000 and the ending balance was $225,000. Required: Compute the return on total assets. (Round your "Percentage" answer to 2 decimal places.) Return on total assets %
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