Missoula Inc. reported the following selected financial statement data: Cash Accounts receivable (net) Inventory Plant...
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Missoula Inc. reported the following selected financial statement data: Cash Accounts receivable (net) Inventory Plant assets (net) Total assets Liabilities Shareholders' equity Net sales Cost of goods sold Net income Dec 31, 2020 $ 49,000 67,000 87,000 229,000 462,000 164,000 298,000 359,000 239,000 24,000 Dec 31, 2021 $ 60,500 90,000 91,000 256,000 433,000 164,000 269,000 438,000 318,000 25, 140 Required: Compute the return on assets for 2021. (Round your answer to 2 decimal places.) Return on assets
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