Exercise 13-11 Financial Ratios for Assessing Profitability and Ma Selected financial data from the June 30 year-end statements of Safford Company are given below Total assets Long-term debt (12% interest rate) Total stockholders' equity Interest paid on long-term debt Net income $5,400,000 $590,000 $3,000,000 $70,800 $400,000 Total assets at the beginning of the year were $5,200,000; total stockholders' equity was $2,800,000. The company's tax rate is 35%. Required: 1. Compute the return on total assets. (Round your percentage answer to 1 decimal place (i.e., 0.1234 be entered as 12.3) turn on total assets 2. Compute the return on equity. (Round your percentage answer to 1 decimal place (.e, 0.1234 should be entered as 12.3).) Return on equity%