Question: Use this information for Kellman Company to answer the question that follow. The balance sheets at the end of each of the first 2 years

 Use this information for Kellman Company to answer the question that

Use this information for Kellman Company to answer the question that follow. The balance sheets at the end of each of the first 2 years of operations indicate the following Kellman Company Year 2 Year 1 Total current assets 5612,500 $561,000 Total investments 69,700 40,000 Total property, plant, and equipment 395,500 697,200 Total current liabilities 112,100 38,600 Total long-term liabilities 316,300 237.100 Preferred stock, 5100 par 12,200 82,200 Common stock, 510 par 518,600 518,600 Pald-in capital in excess of por-Common stock 67,400 67,400 481,100 311,300 Retained earnings Using the balance sheets for Kellman Company, net income is $106,500 and interest expensei 538,600 for Year 2. what is the return on tus for the year (rounded to two decimal places)? Oborn Ocies Previous Next >

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