The following selected information relates to Candle Company for the past two years.

Account

Current year Prior year

Net sales (all credit) $237,250 $180,000

Cost of goods sold $115,000 $110,000

Gross profit $122,250 $70,000

Income from operations $32,000 $30,000

Interest expense $5,000 $7,000

Net income $25,000 $18,000

Cash $22,000 $14,000

Accounts receivable, net $25,000 $31,000

Inventory $56,000 $44,000

Prepaid expenses $2,000 $1,000

Total current assets $105,000 $90,000

Total longterm assets	$150,000	$175,000
Total current liabilities	$60,000	$90,000
Total longterm liabilities	$22,000	$78,000
Common stock, no par, 2,500 shares, market value $96 per share	$40,000	$40,000
Retained earnings	$133,000	$57,000

What is the rate of return on total assets for the current year?

A.

22.64%

B.

11.54%

C.

23.53%

D.

9.62%