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Sunland Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement for 2015 and 2016 follow.

Sunland Medical

Comparative Balance Sheet

As of December 3120162015AssetsCurrent assetsCash$347,000$417,400Accounts receivable, net1,066,600776,400Inventory731,000681,100Other current assets339,000247,100Total current assets2,483,6002,122,000Property, plant, & equipment, net9,032,3108,379,350Total assets$11,515,910$10,501,350Liabilities and Stockholders' EquityCurrent liabilities$3,149,000$2,846,100Long-term debt3,702,7003,892,700Total liabilities6,851,7006,738,800Preferred stock, $5 par value53,50053,500Common stock, $0.25 par value112,000103,800Retained earnings4,498,7103,605,250Total stockholders' equity4,664,2103,762,550Total liabilities and stockholders' equity$11,515,910$10,501,350

Sunland Medical

Comparative Income Statement and Statement of Retained Earnings

For the Year20162015Sales revenue (all on account)$10,350,000$9,614,000Cost of goods sold5,164,0005,298,700Gross profit5,186,0004,315,300Operating expenses2,840,2002,634,200Net operating income2,345,8001,681,100Interest expense393,000308,600Net income before taxes1,952,8001,372,500Income taxes (30%)585,840411,750Net income$1,366,960$960,750Dividends paidPreferred dividends29,50029,500Common dividends444,000458,000Total dividends paid473,500487,500Net income retained893,460473,250Retained earnings, beginning of year3,605,2503,132,000Retained earnings, end of year$4,498,710$3,605,250

Calculate the following profitability ratios for 2016.

Return on assets:

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