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Selected Balance Sheet and Income Statement from Illinois Tool Works follows: $millions 2019 2018 2017 Net Income 2,521 2,563 Total Assets 15,068 14,870 16,780 Equity
Selected Balance Sheet and Income Statement from Illinois Tool Works follows: $millions 2019 2018 2017 Net Income 2,521 2,563 Total Assets 15,068 14,870 16,780 Equity (including Treasury stock) 3,026 3,254 3,254 Treasury Stock 18,982 17,545 15,562 a. Calculate the ROA and ROE for 2019. b. What adjustment would you do to the ROA and ROE above so that they better reflect the profitability of the company? c. Which ratio is the least affected by the company's stock repurchase activity
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