Refer to the following selected financial information from Shakley's Incorporated. Compute the company's return on total assets for Year 2. Year 2Year 1 Net sales $ 484,000 $ 427,350 Cost of goods sold 277,400? 251,220? Interest expense 10,800? 11,800? Net income before tax 68,350? 53,780? Net income after tax 47,150? 41,000? Total assets 319,300? 294,600? Total liabilities 175,900? 168,400? Total equity 143,400? 126,200?
A. 22.3%.
B. 9.7%.
C. 15.4%.
D. 2.8%.
E. 14.8%.
Answer: C
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