Consider the following financial data for North-gate Corporation ($ in millions):
• Cash and marketable securities. $100
• Total fixed assets, $280
• Annual sales, $1,200
• Net income, $358
• lnventory,$180
• Current liabilities, $134
• Current ratio, 3.2
• Average correction period, 45 days
• Average common equity, $500

On the basis of these financial data. determine the firm’s return on (common) equity.
(a) 141.60%
(b) 71.6%
(c) 76.0%
(d) 30%