2014 Solvency and Profitability Trend Analysis Crosby Company has provided the following comparative information: 2048 2017 2016 2015 Net income $5,571,720 $3,714,480 $2,772,000 $1,848,000 Interest expense 1,052,060 8 91,576 768,600 610,000 Income tax expense 1,225,572 845,222 640,320 441,600 Total assets (ending balance) 29,378,491 22,598,839 17,120,333 12,588,480 Total stockholders' equity (ending balance) 18,706,200 13,134,480 9,420,000 6,648,000 Average total assets 25,988,665 19,859,586 14,854,406 11,370,240 Average total stockholders' equity 15,920,340 11,277,2408,034,000 5,724,000 You have been asked to evaluate the historical performance of the company over the last five years Selected industry ratios have remained relatively steady at the following levels for the last five years: 2014-2018 Return on total assets 19% Return on stockholders' equity 26% Times interest earned Ratio of liabilities to stockholders' equity $1,400,000 500,000 320,000 10,152,000 4,800,000 8,676,000 4,100,000 Required: 1. Determine the following for the years 2014 through 2018 for each of the graphs below. Use the amounts given above in your calculations. Round to one decimal place. a. Return on total assets: 30.0% 25.0% 20.0% Retum on Total Asset 100% 5.0% 0.0% 2018 2017 2016 2045 2014 Company's return on total assets Industry return on total assets 20Y8 2017 2016 2015 2074 1. Ketum on stockholders equity 40.0% 35.0% 30.0% 25.0% Retum on Stockholders' Equity 20.0% 15.0% 10.0% 5.0% 0.0% 20Y8 2014 2047 20Y6 2045 Year Company's return on stockholders' equity Industry return on stockholders' equity 2018 2017 2045 2015 2074 Times interest earned: Times Interest Earned 20Y8 2017 2045 20Y6 Year 2014 - Company's times interest eamed Industry times interest oamed 20Y8 2017 2016 2015 2014 Ratio of abilities to stockholders' equity: Rate of Libes to Stockholders' Equity 2014 2018 2017 2016 2015 2. Refer to the elected industry to provided above