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East Point Retail, Inc., sells professional women's apparel through company-owned retail stores. Recent financial information for Ea: Point is provided below (all numbers in thousands).
East Point Retail, Inc., sells professional women's apparel through company-owned retail stores. Recent financial information for Ea: Point is provided below (all numbers in thousands). Fiscal Year 3 Fiscal Year 2 Net income $147,000 $75,700 Interest expense 3,000 11,300 Fiscal Year 3 Fiscal Year 2 Fiscal Year 1 Total assets (at end of fiscal year) $4,046,052 $3,848,684 $3,401,316 Total stockholders' equity (at end of fiscal year) 1,052,979 1,032,127 749,049 Assume the apparel industry average return on total assets is 8.0%, and the average return on stockholders' equity is 15.0% for the year ended April 2, Year 3. a. Determine the return on total assets for East Point for fiscal Years 2 and 3. Round to one decimal place. Fiscal Year 3 4 X % Fiscal Year 2 2 X %
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