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The following information pertains to Jasmine Corporation. Assume that all balance sheet amounts represent both...

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The following information pertains to Jasmine Corporation. Assume that all balance sheet amounts represent both average and ending figures. Current assets $30,000 Tangible assets 270,000 Total assets 300,000 Current liabilities $ 60,000 Long-term liabilities 90,000 Stockholders' equity 150,000 Total liabilities and stockholders' equity $300,000 Jasmin Corporation Income Statement For the Year Ended December 31, 2019 Net sales $80,000 Cost of goods sold 45,000 Gross margin $35,000 Operating expenses 15,000 Income before income taxes $20,000 Income taxes expense 5,000 Net income $15,000 What is the return on assets for this corporation? Round your answer to 1 decimal place. a. 5.0 percent b. 10.0 percent c. 11.7 percent d. 26.7 percent

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