Refer to Table 4-2. The Operating Return on Assets ratio for 2007 was approximately

	a.	0.23.
	b.	0.15.
	c.	0.26.
	d.	0.18.

2008 111 Table 4-2. Income Statement and Balance Sheet for Sam's Appliances Income Statement Balance Sheet Years Ending December 31 January 1 through December 31 Years Years ACCOUNT 2006 2007 2009 CATEGORY 2006 2007 Net Sales $ 330 $ 441$ 462 Current Assets $ 82 $ 94 $ Cost of Goods Sold 148 200 235 Fixed Assets 215 208 Gross Profit $ 182$ 241 $ 227 Total Assets $ 297 $ 302 $ Operating Expenses 148 163 181 Liabilities and Owner's Equity EBIT $ 34 $ 78$ 46 Current Liabilities $ 27 $ 79 $ Interest 5 7 8 Total Long Tem Debt 68 77 EBT $ 29$ 71 $ 38 Total Liabilities $ 95 $ 156 $ Taxes 8 18 10 Owner's Equity 202 146 Net Profit $ 21 $ 53 $ 28 Total Liabilities & OE $ 297 $ 302 $ 195 306 Il a 87 70 157 149 306 el