Addai Company has provided the following comparative information:

	20Y8		20Y7		20Y6		20Y5		20Y4
Net income	$912,600		$786,700		$661,100		$565,000		$478,800
Interest expense	310,300		283,200		244,600		186,500		148,400
Income tax expense	292,032		220,276		185,108		146,900		114,912
Total assets (ending balance)	4,872,092		5,110,766		3,694,996		3,821,186		2,897,733
Total stockholders' equity (ending balance)	1,569,736		1,874,038		1,199,008		1,477,510		886,506
Average total assets	4,991,429		4,402,881		3,758,091		3,184,322		2,703,448
Average stockholders' equity	1,721,887		1,536,523		1,338,259		1,182,008		1,031,897

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:

	20Y420Y8
Return on total assets	24.2%
Return on stockholders equity	49.8%
Times interest earned	4.6
Ratio of liabilities to stockholders' equity	2.1

Required:

1. Determine the following for the years 20Y4 through 20Y8. Round to one decimal place:

a. Return on total assets:

20Y8	%
20Y7	%
20Y6	%
20Y5	%
20Y4	%

b. Return on stockholders equity:

20Y8	%
20Y7	%
20Y6	%
20Y5	%
20Y4	%

c. Times interest earned:

20Y8
20Y7
20Y6
20Y5
20Y4

d. Ratio of liabilities to stockholders' equity:

20Y8
20Y7
20Y6
20Y5
20Y4

2. Refer to the selected industry ratios provided above.

Both the rate earned on total assets and the rate earned on stockholders' equity have been moving in a _____ direction in the last five years. Both measures have moved ____ the industry average over the last two years. The cause of this change is driven by a rapid _____ in earnings.