elected information from Spring Company's December $31,2021$ and December $31,2020$ financial statements are presented below:

$20212020$

Accounts receivable $$83,000$ $$83,000$

Inventory $91,00071,000$

Net sales $480,000384,000$

Cost of goods sold $263,000223,000$

Total assets $830,000765,000$

Total stockholders' equity $510,000455,000$

Net income $77,00060,000$

What is the company's $2021$ return on assets ratio?

Multiple Choice

$0\mathrm{.}3\%$

$1\mathrm{.}6\%$

$9\mathrm{.}3\%$

$9\mathrm{.}7\%$