FASB financial accounting concepts on using estimated future cash flow information in accounting measurements to value various assets and liabilities identified each of the following elements except

that estimated cash flows should reflect a single most likely minimum or maximum possible amount, rather than a range of possible cash flows.

estimates about variations in the amount or timing of those cash flows.

an increase in the interest for any expected risk.

an estimate of the future cash flows and the timing of those cash flows.

Given the following information for Blue Bell Company for last year:

Net sales (all on account)		$5,200,000
Cost of goods sold		2,080,000
Interest expense		240,000
Income tax expense		280,000
Net income		420,000
Income tax rate		40%
Total assets:
	January 1	$1,800,000
	December 31	2,400,000
Shareholders' equity (all common):
	January 1	1,500,000
	December 31	1,600,000
Current assets, December 31		700,000
Quick assets, December 31		400,000
Current liabilities, December 31		300,000
Net accounts receivable:
	January 1	200,000
	December 31	180,000
Inventory:
	January 1	210,000
	December 31	250,000

Refer to Exhibit 4-1. Blue Bell's return on assets for the year was

26.9%

17.5%

20.0%

31.4%