Step Up Ladders Company Provides the Following Financial Information Calculate Return on Investment Based on the Information Given Above

Multiple Choice

Step Up Ladders Company provides the following financial information: $$\begin{array} { | l | r | } \hline \text { Income from operations } & \$ 400,000 \\\hline \text { Interest expense } & 47,000 \\\hline \text { Gains/(losses) on sale of equipment } & 3000 \\\hline \text { Net income } & 350,000 \\\hline \text { Total assets at Jan. 1 } & 2,600,000 \\\hline \text { Total assets at Dec .31 } & 3,400,000 \\\hline\end{array}$$ Calculate return on investment based on the information given above. (Round your answer to two decimal places.)

A) 15.38%
B) 11.67%
C) 13.33%
D) 11.76%