The following data are provided:

	December 31
	2021		2020
Cash	$ 1300000		$ 980000
Accounts receivable (net)	1400000		1100000
Inventories	2400000		2100000
Plant assets (net)	6000000		6400000
Accounts payable	1000000		780000
Income taxes payable	180000		90000
Bonds payable	1300000		1300000
10% Preferred stock, $50 par	1800000		1800000
Common stock, $10 par	2300000		1700000
Paid-in capital in excess of par	1500000		1200000
Retained earnings	3800000		3400000
Net credit sales	12700000
Cost of goods sold	8200000
Operating expenses	2700000
Net income	1400000

Additional information: Depreciation included in cost of goods sold and operating expenses is $1200000. On May 1, 2021, 60000 shares of common stock were issued. The preferred stock is cumulative. The preferred dividends were not declared during 2021. The return on common stock holders' equity for 2021 is

1400 7600.

1400 6860.

1220 6860.

1220 7600.