Industries. All balances are shown in the millions and the company has an effective tax rate of 35%. What is the return on assets? (Compute to 4 decimals instead of a percentage.) 1-Jan-31-Dec- 20 20 Assets: Cash Accounts Receivable (net) Inventory Equipment Less: accumulated depreciation Total Assets Liabilities and Stockholders' Equity accounts payable accrued expenses long-term note payable Common stock ($1 par) Retained earnings $677 $1000 1566 612 1025 836 116 1258 {D1} {DO} 2794 3208 $631 239 1091 646 369 $539 137 1028 1215 492 Revenues Cost of goods sold Depreciation expense Interest expense Salary expense Other expense (including income tax) Net Income $4204 2412 223 316 215 944 $203