ofitability P 8-9 The following financial information is for A. Galler Company for 2011, 2010, and 2009: 2011 2010 2009 Income before interest $4,400,000 $4,000,000 $3,300,000 Interest expense 800,000 600,000 550,000 Income before tax 3,600,000 3,400,000 2,750,000 Tax 1,500,000 1,450,000 1,050,000 Net income $2,100,000 $1,950,000 $1,700,000 2011 2010 2009 Current liabilities $ 2,600,000 $2,300,000 $2,200,000 Long-term debt 7,000,000 6,200,000 5,800,000 Preferred stock (14%) 100,000 100,000 100,000 Common equity $10,000,000 9,000,000 8,300,000 Required a. For 2011, 2010, and 2009, determine the following: 1. Return on assets (using end-of-year total assets) 2. Return on investment (using end-of-year long-term liabilities and equity) 3. Return on total equity (using ending total equity) 4. Return on common equity (using ending common equity) b. Discuss the trend in these profit figures. c. Discuss the benefit from the use of long-term debt and preferred stoek