WILMINGTON CORPORATION Balance Sheet Dec. 31, Year 7 Dec. 31, Year 6 $548,001 166,106 245,468 403,268 52,601 83,053 1,498,497 1,384,217 568,003 $3,450,717 $289,834 187,064 274,645 371,578 24,234 85,029 1,232,384 625,421 425,000 $2,282,805 Current Assets Cash and cash equivalents Marketable securities Accounts receivable (net) Inventories Prepaid expenses Other current assets Total Current Assets Property, plant and equipment Long-term investment Total Assets Current Liabilities Short-term borrowings Current portion of long-term debt Accounts payable Accrued liabilities Income taxes payable Total Current Liabilities Long-term debt Deferred income taxes Total Liabilities Common stock Additional paid-in capital Retained earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity $306,376 155,000 241,405 259,975 92,848 1,055,604 500,000 204,266 1,759,870 $425,250 356,450 909,147 1,690,847 $3,450,717 $170,419 168,000 271,944 158,634 169,965 938,962 300,000 249,284 1,488,246 $125,000 344,335 325,224 794,559 $2,282,805 Selected Income Statement Data for the year ending December 31, Year 7 Net sales Cost of goods sold Selling expenses Operating income Interest expense Earnings before income taxes Income tax expense $4,885,340 (2,960,267) (884,685) 1,040,388 (55,240) 985,148 (401,225) $583,923 Net income Selected Statement of Cash Flow Data for the year ending December 31, Year 7 Cash flows from operations $1,383,280 Capital expenditures $745,862 Required Wilmington Corporation's return on assets in Year 7 was: Select one: O a. 34.4% O b. 16.9% O C. 20.4% o d. 59.0%