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Addai Company has provided the following comparative information: 20Y8 20Y7 20Y6 20Y5 20Y4 Net income $975,900 $841,300 $707,000 $604,300 $512,100 Interest expense 331,800 302,900 261,600

Addai Company has provided the following comparative information:

20Y8 20Y7 20Y6 20Y5 20Y4
Net income $975,900 $841,300 $707,000 $604,300 $512,100
Interest expense 331,800 302,900 261,600 199,400 158,800
Income tax expense 312,288 235,564 197,960 157,118 122,904
Total assets (ending balance) 6,292,263 6,655,261 4,786,739 4,997,099 3,789,467
Total stockholders' equity (ending balance) 1,989,109 2,416,761 1,542,297 1,931,905 1,159,143
Average total assets 6,473,762 5,721,000 4,891,919 4,164,249 3,549,735
Average stockholders' equity 2,202,935 1,979,529 1,737,101 1,545,524 1,358,355

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 19.9%
Return on stockholders equity 41.1%
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

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