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Canadian Bacon Inc. financial statements are presented in the table below. Based on the information...

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Accounting

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Canadian Bacon Inc. financial statements are presented in the table below. Based on the information in the table, calculate Return on Assets. Round the answers to two decimal places in percentage form. (Write the percentage sign in the "units" box). Balance Sheet December 31, 2012 Income Statement, Year of 2012 Net sales (all credit) $7,546,600.00 Less: Cost of goods sold Selling and administrative $349,000.00 expenses Depreciation expense $145,000.00 EBIT $939,854.00 Interest expense $49,500.00 Earnings before taxes $890,354.00 Income taxes $356,141.60 Net income $534,212.40

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