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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 Total

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 $607,308 $555,105 Total investments 66,098 44,074 Total property, plant, and equipment 948,413 656,613 Total current liabilities 116,379 88,852 Total long-term liabilities 318,394 249,970 Preferred 9% stock, $100 par 84,433 84,433 Common stock, $10 par 510,769 510,769 Paid-in capital in excess of par-common stock 68,646 68,646 Retained earnings 523,198 253,122 Using the balance sheets for Kellman Company, if net income is $111,990 and interest expense is $37,302 for Year 2, what is the return on total assets for the year (round percent to two decimal points)?

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The balance sheets at the end of each of the first two years of operations indicate the following: Kellman Company Total current assets Total investments Total property, plant, and equipment Total current liabilities Total long-term liabilities Preferred 9% stock, $100 par Year 2 Year 1 $607,308 $555,105 66,098 44,074 948,413 656,613 116,379 88,852 318,394 249,970 84,43384,433 510,769 510,769 68,646 68,646 523,198 253,122 Common stock, $10 par Paid-in capital in excess of par-common stock Retained earnings Using the balance sheets for Kellman Company, if net income is $111,990 and interest expense is $37,302 for Year 2, what is the return on total assets for the year (round percent to two decimal points)? O a. 8.92% Ob. 10.65% c. 10.38% Od. 6.91%

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