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Profitability Ratios East Point Retail, Inc. sells apparel through company-owned retail stores. Recent financial information for East Point follows (in thousands): Assume the apparel industry
Profitability Ratios East Point Retail, Inc. sells apparel through company-owned retail stores. Recent financial information for East Point follows (in thousands): Assume the apparel industry average return on total assets is 5.0% and the average return on stockholders' equity is 8.0% for the year ended a. Determine the return on total assets for East Point for fiscal Years 2 and 3. Round percentages to one decimal place. If required, use a minus sign to indicate a negative return on total assets. Fiscal Year 3X% Fiscal Year 2+X% b. Determine the return on stockholders' equity for East Point for fiscal Years 2 and 3 . Round percentages to one decimal place. If required, use a minus sign to indicate a negative return on stockholders' equity. Fiscal Year 3 Fiscal Year 2X%
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