Polly Esther Dress Shops Inc. can open a new store that will do an annual sales volume of $1,220,400. It will turn over its assets 2.7 times per year. The profit margin on sales will be 7 percent.
What would net income and return on assets (investment) be for the year? (Input your return on assets answer as a percent rounded to 2 decimal places.)
Net Income=
Return on assets= _____%