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East Point, Inc., sells merchandise through company-owned retail stores and an Internet Website. Recent financial information for East Point is provided below (all numbers in
East Point, Inc., sells merchandise through company-owned retail stores and an Internet Website. Recent financial information for East Point is provided below (all numbers in millions).
Year 3 | Year 2 | |||||
Net income | $144,000 | $74,100 | ||||
Interest expense | 2,900 | 11,100 | ||||
Year 3 | Year 2 | Year 1 | ||||
Total assets | $1,434,024 | $1,364,072 | $1,217,746 | |||
Total stockholders' equity | 956,842 | 937,894 | 385,320 |
a. Determine the return on total assets for East Point for the fiscal Years 2 and 3. Round your percentage answers to one decimal place.
Year 3 | 10.3 % ( Incorrect ) |
Year 2 | fill in the blank 2 % |
b. Determine the return on stockholders' equity for East Point for the fiscal Years 2 and 3. Round your percentage answers to one decimal place.
Year 3 | fill in the blank 3 % |
Year 2 | fill in the blank 4 % |
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