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Use this information for Kelman Company to answer the question that follow The balance sheets at the end of each of the first 2
Use this information for Kelman Company to answer the question that follow The balance sheets at the end of each of the first 2 years of operations indicate the following: Total current assets Total investments Kellman Company Total property, plant, and equipment Total current liabilities Total long-term liabilities Preferred 9% stock, $100 par Common stock, $10 par Paid-in capital in excess of per-Common stock Retained earnings Year 2 Year 1 $612,100 $570,400 60,100 40,200 891,800 695,200 106,900 12.700 308,600 329,400 91,000 91,900 500,000 508,000 70,000 478,600 70,000 323,000 Using the balance sheets for Kallman Company, f net income is $118,700 and interest expense is $46,300 for Year 2, what is the return on total assets for the year (rounded to two decimal places)? 06. 159 Oc. 11506 Od.
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