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The Following Information Is Available from the Financial Statements of Cosmotropolis

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The following information is available from the financial statements of Cosmotropolis: 200920102011 Total assets, December 31$341,585$395,412$922,357 Net income 35,55049,51268,149\begin{array}{lrrr}&2009&2010&2011\\\text { Total assets, December } 31 & \$ 341,585 & \$ 395,412 & \$ 922,357 \\\text { Net income } & 35,550 & 49,512 & 68,149\end{array}
What is Cosmotropolis' return on total assets for 2011?

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Definitions:

Permanent/Temporary

Categories of accounts in accounting, where permanent accounts carry their end-of-period balances into the next period, and temporary accounts are closed.

Deposits In Transit

Deposits that were made by customers of a bank but did not reach, or were not processed by, the bank before the preparation of the bank statement.

Bank Collections

The process of banks acting as intermediaries to collect and process payments, such as checks or drafts, on behalf of clients.

Credit Memorandum

A document issued by a seller to acknowledge a reduction in the amount that a buyer owes, often due to a return or refund.

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