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E5-17 Analyzing and Interpreting Return on Assets LO5-4

Tiffany & Co. is one of the world?s premier jewelers and a designer of other fine gifts and housewares. Presented here are selected income statement and balance sheet amounts (dollars in thousands).

	Current Year	Prior Year
Net sales	$	3,643,492	$	3,085,845
Net income	489,745	388,958
Average shareholders' equity		2,263,745		2,030,912
Average total assets		3,947,836		3,612,570

Required:

1.	Compute ROA for the current and prior years. (Round your answers to 3 decimal places.)