Addai Company has provided the following comparative information:

	20Y8		20Y7		20Y6		20Y5		20Y4
Net income	$1,221,100		$1,052,700		$884,600		$756,100		$640,800
Interest expense	415,200		379,000		327,300		249,500		198,600
Income tax expense	390,752		294,756		247,688		196,586		153,792
Total assets (ending balance)	7,835,104		8,286,078		5,959,694		6,220,206		4,716,990
Total stockholders' equity (ending balance)	2,472,953		3,002,831		1,916,327		2,398,795		1,439,277
Average total assets	8,060,591		7,122,886		6,089,950		5,183,505		4,417,895
Average stockholders' equity	2,737,892		2,459,579		2,157,561		1,919,036		1,686,316

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	20%
Return on stockholders equity	41.4%
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 positive direction in the last five years. Both measures have moved above the industry average over the last two years. The cause of this change is driven by a rapid increase in earnings.