Use Apparels financial statements in Exercise 12-65 and the information below to respond to the following requirements.

Question:

Use Apparel’s financial statements in Exercise 12-65 and the information below to respond to the following requirements.

January 1, 2008

Statement Item (In Thousands)

Total assets .............$3,485,233

Total stockholders’ equity ....... 2,083,122

Required:

1. Compute the five profitability ratios for 2008 and 2009.

2. Explain what these ratios suggest about Apparel’s profitability. Indicate what other information you would like to know to further access Apparel’s profitability.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...