Given below are comparative balance sheets and an income statement for Namekagon Corporation.

Namekagon Corporation Balance Sheets - 2018

Dec. 31 Jan. 1

Cash $ 15,600 $ 15,600

Accounts receivable 46,800 37,700

Inventory 32,500 36,400

Equipment (net) 57,200 66,300

$ 152,100 $ 156,000

Accounts payable 26,000 28,600

Dividends payable 7,800 3,900

Long-term note payable 14,300 14,300

Capital stock, $5 par 72,800 72,800

Retained earnings 31,200 36,400

$ 152,100 $ 156,000

Namekagon Corporation Income Statement For the year ended 2018

Sales $ 228,800

Cost of goods sold (137,540 )

Gross profit on sales $ 91,260

Operating expenses (75,868 )

Operating income $ 15,392

Interest expense (9,100 )

Net income $ 6,292

Namekagon Corporation's return on common stockholders' equity for 2018 is:

16.9%.

8.7%.

5.9%.

9.9%.