Given below are comparative statements of financial position (balance sheets) and an income statement for Claret Corporation. Claret Corporation Balance Sheets Year 2 December 31 Cash $ 16,300 Accounts receivable 47,710 Inventory 33,200 Equipment (net) 57,900 Total $ 155, 110 Accounts payable 26,700 Dividends payable 8,500 Long-term note payable 15,000 Capital stock, $5 par 73,500 Retained earnings 31,410 Total $ 155,110 January 1 $ 16,300 39,100 37,100 67,000 $ 159,500 29,300 4,600 15,000 73,500 37,100 $ 159,500 Claret Corporation Income Statement For the year ended Year 2 Sales Cost of goods sold Gross profit on sales Operating expenses Operating income Interest expense and income taxes Net income $ 229,500 137,610 $ 91,890 75,938 $ 15,952 9,450 $ 6,502 All sales were made on account. Cash dividends declared during the year totaled $12,192. Claret Corporation's return on assets for Year 2 rounded to the nearest tenth of a percent is: Multiple Choice 10.14%. 4.13%. 6.03%. 17.03%