Refer to the income statement and balance sheet of Kellogg Company, from Mid-Module Reviews 1 Kellogg Company

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Refer to the income statement and balance sheet of Kellogg Company, from Mid-Module Reviews 1 Kellogg Company (K) and 2 .

a. Compute the FLEV and SPREAD for Kellogg's for 2007.

b. Use RNOA from Mid-Module review 2, and the FLEV and SPREAD from part \(a\), to compute ROE. Compare the ROE calculated in this exercise with the ROE from the Mid-Module Review 2.

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