Business, 17.12.2021 04:30 garrettengle03

The balance sheets at the end of each of the first two years of operations indicate the following: Kellman Company Year 2 Year 1 Total current assets $626,744 $563,542 Total investments 67,619 45,082 Total property, plant, and equipment 888,650 693,459 Total current liabilities 117,204 88,556 Total long-term liabilities 276,894 244,567 Preferred 9% stock, $100 par 82,603 82,603 Common stock, $10 par 506,244 506,244 Paid-in capital in excess of par-common stock 64,462 64,462 Retained earnings 535,606 315,651 Using the balance sheets for Kellman Company, if net income is $117,776 and interest expense is $41,206 for Year 2, what is the return on total assets for the year (round percent to two decimal points)?

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The balance sheets at the end of each of the first two years of operations indicate the following: K...

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