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The following information pertains to Carlton Company. Assume that all balance sheet amounts represents end-of-period amounts. Assume that all sales were on credit. Assets Cash

The following information pertains to Carlton Company. Assume that all balance sheet amounts represents end-of-period amounts. Assume that all sales were on credit.

Assets
Cash and short-term investments $38,219
Accounts receivable (net) 28,590
Inventory 38,591
Property, plant and equipment 266,111
Total Assets $371,511
Liabilities and Stockholders' Equity
Current liabilities $57,129
Long-term liabilities 89,133
Stockholders' equity-common 225,249
Total liabilities and stockholders' equity $371,511
Income Statement
Net Sales $93,921
Cost of goods sold 37,568
Gross margin 56,353
Operating expenses 24,572
Net income from operations $31,781
Interest expense 4,696
Net income $27,085
Number of shares of common stock 5,621
Market price of common stock $29
Total dividends paid $9,000
Cash provided by operations $30,000

What is the return on total assets for this company?

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