Hagerman Corporation's most recent income statement appears below: Sales (all on account) $445,000 Cost of...
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Hagerman Corporation's most recent income statement appears below: Sales (all on account) $445,000 Cost of goods sold 267,000 Gross margin 178,000 Selling and administrative expense 89,000 Net operating income 89,000 Interest expense 22,250 Net income before taxes 66,750 Income taxes (30%) 20,025 Net income $46,725 The beginning balance of total assets was $250,000 and the ending balance was $156,000. The return on total assets is closest to:
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