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Kellman Company Year 2 Year 1 Total current assets $614,031 $561,031 Total investments 65,913 41,973 Total property, plant, and equipment 863,933 786,774 Total current liabilities
Kellman Company | ||
Year 2 | Year 1 | |
Total current assets | $614,031 | $561,031 |
Total investments | 65,913 | 41,973 |
Total property, plant, and equipment | 863,933 | 786,774 |
Total current liabilities | 101,404 | 81,163 |
Total long-term liabilities | 319,297 | 226,426 |
Preferred 9% stock, $100 par | 91,321 | 91,321 |
Common stock, $10 par | 570,646 | 570,646 |
Paid-in capital in excess of par-common stock | 64,639 | 64,639 |
Retained earnings | 396,570 | 355,583 |
Using the balance sheets for Kellman Company, if net income is $104,461 and interest expense is $41,009 for Year 2, what is the return on total assets for the year (round percent to two decimal points)?
a.7.52%
b.9.47%
c.6.77%
d.9.92%
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