The year-end financial statements of Time Company reveal average shareholders equity attributable to controlling interest of $669,826 thousand, net operating profit after tax of $48,032 thousand, net income attributable to the company of $29,068 thousand, and average net operating assets of $283,531 thousand. The companys return on equity (ROE) for the year is:

Select one:

a. 10.3%

b. There is not enough information to calculate the ratio.

c. 4.3%

d. 7.2%

e. 16.9% X