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Refer to the following selected financial information from Blakely's Incorporated. Compute the company's return on total assets for Year 2: Year 2 Year 1 Net

Refer to the following selected financial information from Blakely's Incorporated. Compute the company's return on total assets for Year 2:

Year 2 Year 1
Net sales $482,500 $438,250
Cost of goods sold 376,300 350,120
Interest expense 9,700 10,700
Net income 67,550 54,201
Total assets 337,500 299,000
Total liabilities 181,400 167,300
Total equity 135,700 120,700

20.0%.

28.6%.

14%.

21.2%.

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