=+b. Assume that the company's net income for 1998 was $20 million. What was its return on
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=+b.
Assume that the company's net income for 1998 was $20 million.
What was its return on assets (ROA)
(a) before and
(b) after cap-
italizing the operating leases? Use straight-line depreciation over 14 years for the capitalized leases. Operating lease expense for 1998 is $5,900,000.
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Authors: Harry I. Wolk, James Dodd, Michael G. Tearney
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