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Problem - The following selected data were taken from the financial statements of Vidahill Inc. for December 31, 20Y7, 20Y6, and 20Y5:
20Y7
20Y6
20Y5
Total assets
$4,800,000
$4,400,000
$4,000,000
Notes payable (8% interest)
2,250,000
Common stock
250,000
Preferred 4% stock, $100 par (no change during year)
500,000
Retained earnings
1,574,000
1,222,000
750,000
The 20Y7 net income was $372,000, and the 20Y6 net income was $492,000. No dividends on common stock were declared between 20Y5 and 20Y7. Preferred dividends were declared and paid in full in 20Y6 and 20Y7.
Required -
a. Determine the return on total assets, the return on stockholders' equity, and the return on common stockholders' equity for the years 20Y6 and 20Y7. Round percentages to one decimal place.
b. What conclusions can be drawn from these data as to the company's profitability?
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