Business
Business, 02.07.2019 01:10, livesk8923

The balance sheets at the end of each of the first two years of operations indicate the following: year 2 year 1 total current assets $630,000 $560,000 total investments 60,000 40,000 total property, plant, and equipment 900,000 700,000 total current liabilities 150,000 80,000 total long-term liabilities 350,000 250,000 preferred 9% stock, $100 par 100,000 100,000 common stock, $10 par 600,000 600,000 paid-in capital in excess of par—common stock 60,000 60,000 retained earnings 330,000 210,000 if net income is $125,000 and interest expense is $30,000 for year 2, what is the return on total assets for year 2? (round percent to one decimal point.)

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