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Watermelon, Inc. provides the following data: 20X2 20X8 Cash Accounts Receivable, Net Merchandise Inventory Property, Plant, and Equipment, Net Total Assets $44,000 $25,000 99,000 62,000

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Watermelon, Inc. provides the following data: 20X2 20X8 Cash Accounts Receivable, Net Merchandise Inventory Property, Plant, and Equipment, Net Total Assets $44,000 $25,000 99,000 62,000 72,000 50,000 182,000 120,000 $397,000 $257,000 Additional information for the year ending December 31, 20X9: Net Credit Sales $530,000 Cost of Goods Sold 180,000 Interest Expense 21,000 Net Income 184,000 Calculate the rate of return on total assets for 20X9. O 51.64% O 71.60% O 62.69% O 46.35%

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