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[The following information applies to the questions displayed below.] The comparative financial statements prepared at December 31, 2015, for Prince Company showed the following summarized

[The following information applies to the questions displayed below.]

The comparative financial statements prepared at December 31, 2015, for Prince Company showed the following summarized data:

2015 2014
Income statement:
Sales revenue $ 191,800 * $ 167,300
Cost of goods sold 113,700 100,800
Gross profit 78,100 66,500
Operating expenses and interest expense 57,900 54,900
Pretax income 20,200 11,600
Income tax 7,200 3,600
Net income $ 13,000 $ 8,000
Balance sheet:
Cash $ 4,400 $ 5,700
Accounts receivable (net) 15,600 17,300
Inventory 40,800 33,100
Operational assets (net) 45,300 36,400
$ 106,100 $ 92,500
Current liabilities (no interest) $ 15,300 $ 16,300
Long-term liabilities (9% interest) 43,900 43,900
Common stock (par $5) 28,300 28,300
Retained earnings 18,600 4,000
$ 106,100 $ 92,500

*One-third was credit sales. image text in transcribed Getting the last three wrong, can you please provide a solution with proof of work.

f. What was the return on equity? Return on equity 32.8 g. What was the return on assets? Return on assets 13.01 % h. Compute the financial leverage percentage? Financial leverage percentage 19.8

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