Information for Waterway Industries is given below: Waterway Industries Balance Sheet December 31, 2021 Assets Equities Cash $290000 Accounts payable $640000 Accounts receivable 1949000 Income taxes payable 187000 (net) Inventories 2446000 Miscellaneous accrued payables 227000 Plant and equipment, Bonds payable (8%, due 2023) 1800000 net of depreciation 1985000 Preferred stock ($100 par, 6% Patents 264000 700000 cumulative nonparticipating) Common stock (no par, Other intangible assets 74800 60,000 Total Assets $7008800 shares authorized, issued and outstanding) Retained earnings Net sales Treasury stock-1500 shares 1130000 2549800 of preferred (225000) Total Equities $7008800 Waterway Industries Income Statement Year Ended December 31, 2021 $9100000 Cost of goods sold 5500000 Gross profit 3600000 Operating expenses (including bond interest expense) 1400000 Income before income taxes 2200000 Income tax Net income 440000 $ 1760000 Additional information: There are no preferred dividends in arrears, the balances in the Accounts Receivable and Inventory accounts are unchanged from January 1, 2021, and there were no changes in the Bonds Payable, Preferred Stock, or Common Stock accounts during 2021. Assume that preferred dividends for the current year have not been declared. The rate of return for 2021 based on the year-end common stockholders' equity was O 1718+3638. O 1760+3638. O 1718+ 3680. 1760 +3680.