Total assets Total liabilities Preferred shares Common shares Retained earnings Additional data: Net income Interest expense Sales revenue 2020 $950,000 250,000 75,000 300,000 325,000 2019 $850,000 240,000 75,000 300,000 235,000 140,000 25,000 980,000 3. The return on assets for 2020 is a) 15.6% b) 16.5% c) 17.4% d) 18.5% e)None of the above Answer: 4. The return on equity for 2020 is a) 20.0% b) 21.4% c) 26.7% d) 46.7%. e)None of the above