Selected current year company information follows:

Net income $ 16,553
Net sales 718,855
Total liabilities, beginning-year 89,932
Total liabilities, end-of-year 109,201
Total stockholders' equity, beginning-year 204,935
Total stockholders' equity, end-of-year 130,851

The return on total assets is:

The return on total assets is 6.19%

Explanation:

According to accounting equation

Total Asset = Equity + Liabilities

Total Assets, beginning-year = Total stockholders' equity, beginning-year + Total liabilities, beginning-year

Total Assets, beginning-year = $204,935 + $89,932

Total Assets, beginning-year = $294,867

Total Assets, end-of-year = Total stockholders' equity, end-of-year + Total liabilities, end-of-year

Total Assets, end-of-year = $130,851 + $109,201 = $240,052

Average total assets = ( Total Assets, beginning-year + Total Assets, end-of-year ) / 2

Average total assets = ( $294,867 + $240,052 ) / 2 = $267,459.5

Return on total Assets = Net Income /  Average total Assets

Return on total Assets = $16,553 / $267,459.5 = 0.0619 = 6.19%

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