Question 9 (1 point) Please use the following information (pertaining to Dance Company) to answer the next two questions. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit Assets Cash and short-term investments $ 45,000 Accounts receivable (net). 25,000 Inventory 20,000 Property, plant and equipment... 210,000 Total Assets $300,000 Liabilities and Stockholders' Equity Current liabilities $ 50,000 Long-term liabilities 90,000 Stockholders' equity-common 160.000 Total Liabilities and Stockholders' Equity $300.000 Income Statement Sales Cost of goods sold. Gross margin Operating expenses Net income $ 120,000 66.000 54,000 30.000 $ 24,000 6.000 $20 50 Number of shares of common stock Market price of common stock Dividends per share on common stock Cash provided by operations What is the return on assets for this Dance Company? $40,000 Operating expenses. Net income 30,000 $ 24,000 Number of shares of common stock Market price of common stock Dividends per share on common stock Cash provided by operations......... What is the return on assets for this Dance Company? 6,000 $20 :50 $40,000 16.0% 8.0% 70% 14.0%