Profitablity Ratios East Point Retail, Inci, selis professional women's apparel through company-owned retail stores. Recent financial information for East Point is provided below (all numbers: in thousands). Assume the apparel industry average rate eamed on total assets is 5.0%, and the average rate eamed on stockholderst equity is 8.0% for the year ended February 2, Year 3 a. Determine the rate earned on total assets for East Point for fiscal Years 2 and 3 . Round to one decimal place. Fiscal Year 3 Fiscal Year 2 b. Determine the rate earned on stockholders' equity for East Point for fiscal Years 2 and 3. Round to one decimal place. Fiscal Year 3 96 Fiscal Year 2 c. The rate earned on stockholders' equity is the rate earned on total assets due to the use of leverage. d. During fiscal Year 3 , East Point's results were compared to the Industry average. These relationships suggest that East Point has leverage than the industry, on average