Gulick Corporation's most recent income statement appears below:

The beginning balance of total assets was $300,000 and the ending balance was $260,000.

1. Compute the return on total assets. (Round your answer to 1 decimal place. Omit the "%" sign in your response.)

Sales (all on account) Cost of goods sold $300,000 150,000 Gross margin Selling and administrative expense 150,000 68,000 Net operating income Interest expense 82,000 11,000 Net income before taxes Income taxes (30%) 71,000 21,300 Net income $ 49,700