The financial statements for Castile Products, Inc., are given below: Castile Products, Inc. Balance Sheet December 31 Assets Current assets: Cash Accounts receivable, net Merchandise inventory Prepaid expenses $ 21,000 220,000 400,000 9,000 Total current assets Property and equipment, net 650,000 850,000 Total assets $1,500,000 Liabilities and Stockholders' Equity Liabilities: Current liabilities Bonds payable, 9% $ 260,000 310,000 570,000 Total liabilities Stockholders' equity: Common stock, $5 par value Retained earnings $ 130,000 800,000 Total stockholders' equity 930,000 Total liabilities and stockholders' equity $1,500,000 Castile Products, Inc. Income Statement For the Year Ended December 31 Sales $2,100,000 Cost of goods sold 1,200,000 Gross margin Selling and administrative expenses 900,000 610,000 Net operating income Interest expense 290,000 27,900 Net income before taxes Income taxes (30%) 262,100 78,630 Net income $ 183,470 Account balances at the beginning of the year were: accounts receivable, $210,000; and inventory, $300,000. All sales were on account. Assets at the beginning of the year totaled $1,030,000, and the stockholders' equity totaled $665,000. 3. Return on total assets. (Round your percentage answer to 1 decimal place (i.e., 0.1234 should be entered as 12.3).) Return on total assets 19.3 % 4. Return on equity. (Round your percentage answer to 1 decimal place (i.e., 0.1234 should be entered as 12.3).) Return on equity 19.7%