during 2010 , what was the return on assets?
item 6 . selected financial data the following table represents our selected financial data . the table should be read in conjunction with item 7 and item 8 of this report . the table below reflects immaterial error corrections discussed in note 2 : summary of significant accounting policies in item 8. .

|  | Year Ended December 31 |
| :--- | :--- |
| ($ in millions, except per share amounts) | 2012 | 2011 | 2010 | 2009 | 2008 |
| Sales and service revenues | $6,708 | $6,575 | $6,723 | $6,292 | $6,189 |
| Goodwill impairment | — | 290 | — | — | 2,465 |
| Operating income (loss) | 358 | 100 | 241 | 203 | (2,332) |
| Net earnings (loss) | 146 | (100) | 131 | 119 | (2,397) |
| Total assets | 6,392 | 6,069 | 5,270 | 5,097 | 4,821 |
| Long-term debt<sup>(1)</sup> | 1,779 | 1,830 | 105 | 283 | 283 |
| Total long-term obligations | 4,341 | 3,838 | 1,637 | 1,708 | 1,823 |
| Free cash flow<sup>(2)</sup> | 170 | 331 | 168 | (269) | 121 |
| Dividends declared per share | $0.10 | $— | $— | $— | $— |
| Basic earnings (loss) per share<sup>(3)</sup> | $2.96 | $(2.05) | $2.68 | $2.44 | $(49.14) |
| Diluted earnings (loss) per share<sup>(3)</sup> | $2.91 | $(2.05) | $2.68 | $2.44 | $(49.14) |

basic earnings ( loss ) per share ( 3 ) $ 2.96 $ ( 2.05 ) $ 2.68 $ 2.44 $ ( 49.14 ) diluted earnings ( loss ) per share ( 3 ) $ 2.91 $ ( 2.05 ) $ 2.68 $ 2.44 $ ( 49.14 ) ( 1 ) long-term debt does not include amounts payable to our former parent as of and before december 31 , 2010 , as these amounts were due upon demand and included in current liabilities . ( 2 ) free cash flow is a non-gaap financial measure and represents cash from operating activities less capital expenditures . see liquidity and capital resources in item 7 for more information on this measure . ( 3 ) on march 30 , 2011 , the record date of the stock distribution associated with the spin-off from northrop grumman , approximately 48.8 million shares of $ 0.01 par value hii common stock were distributed to northrop grumman stockholders . this share amount was utilized for the calculation of basic and diluted earnings ( loss ) per share for the three months ended march 31 , 2011 , and all prior periods , as no common stock of the company existed prior to march 30 , 2011 , and the impact of dilutive securities in the three month period ended march 31 , 2011 , was not meaningful. .

net_income = 131
total_assets = 5270
answer = net_income / total_assets * 100