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The balance sheets at the end of each of the first two years of operations indicate the following: Kellman Company Year 2 Year 1
The balance sheets at the end of each of the first two years of operations indicate the following: Kellman Company Year 2 Year 1 Total current assets $628,952 $564,329 Total Investments 67,365 41,431 Total property, plant, and equipment 937,858 726,476 Total current liabilities 110,914 86,305 Total long-term babilities 284,468 230,228 Preferred 9% stock, $100 par Common stock, $10 par 95,903 95,903 572,026 572,026 63.338 Paid-in capital in excess of par-common stock Retained earnings 63,338 507,526 284,436 Using the balance sheets for Kellman Company, if net income is $113,308 and interest expense is $40,436 for Year 2, what is the return on total assets for the year (round percent to two decimal points)? O 1037% Oh 10.05% Oc 851% O 4 693%
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