What is the return on assets for this company? 16.1% 11.3% 6.5% 12.9%

The following information pertains to Acme Garden Supply Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Cash and short-term investments Accounts receivable (net) Inventory Property, plant, and equipment Total Assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Stockholders' equitycommon Total Liabilities and Stockholders' Equity Income Statement Sales revenue Cost of goods sold Gross margin Operating expenses Net income Number of shares of common stock Market price of common stock Dividends per share on common stock Cash provided by operations $ 45,000 30,000 25,000 210 ooo $310,000 $ 60,000 95,000 155 ooo $310,000 $116,000 66 ooo 50,000 30 ooo $ 20 ooo 6,000 $20 .50 $35,000 What is the return on assets for this company? O 16.1% 11.3% 6.5% 12.9%