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

Year 2 Year 1
Net sales $ 479,500 $ 426,450
Cost of goods sold 276,500 250,320
Interest expense 9,900 10,900
Net income before tax 67,450 52,880
Net income after tax 46,250 40,100
Total assets 317,500 289,200
Total liabilities 180,400 167,500
Total equity 137,100 121,700

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