Question: The selected financial statement information for a company includes the following items: 1. total assets of $300,000 at the end of the current year 2.

The selected financial statement information for a company includes the following items:
1. total assets of $300,000 at the end of the current year
2. total assets of $500,000 at the end of the prior year
3. net sales of $3,000,000 in the current year
4. net income of $1,200,000 in the current year
What is the return on assets for the current year?
A. 3.0
B. 4.0
C. 7.5
D. 10.0

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