Reference no: EM132988881
Question - East Point Retail, Inc. sells apparel through company-owned retail stores. Recent financial information for East Point follows (in thousands):
Fiscal Year 3 Fiscal Year 2
Net income (loss) $139,300 $(71,700)
Interest expense 2,800 10,700
Fiscal Year 3 Fiscal Year 2 Fiscal Year 1
Total assets (at end of fiscal year) $1,501,572 $1,428,324 $1,273,316
Total stockholders' equity (at end of fiscal year) 896,134 878,388 647,144
Assume the apparel industry average return on total assets is 5.0% and the average return on stockholders' equity is 8.0% for the year ended February 2, Year 3.
Required -
a. Determine the return on total assets for East Point for fiscal Years 2 and 3.
b. Determine the return on stockholders' equity for East Point for fiscal Years 2 and 3.
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