Question 7 (1 point) During the latest year, XYZ Corporation has total sales of $300,000, net income of 10,000, and its year-end total assets were $240,000. The firm's total debt to total assets ratio was 40 %. What is firm's return on assets (ROA)? (Enter your answers as a percentage rounded to 2 decimal places. For example, enter 8.43 (% ) instead of 0.0843. Your Answer: Answer Question 8 (1 point) Which of the following rules apply to the financial statements of public companies in the United States? [SELECT ALL THAT APPLY] Must produce a balance sheet, income statement, statement of cash flows, and statement of stockholders' equity Must be reviewed by an independent auditor Must be produced according to GAAP, the Generally Accepted Accounting Principles