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Assume the apparel industry average return on total assets is 8.0%, and the average return...

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Accounting

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Assume the apparel industry average return on total assets is 8.0%, and the average return on stockholders' equity is 15.0% for the year en Year 3. a. Determine the return on total assets for East Point for fiscal Years 2 and 3. Round to one decimal place. Fiscal Year 3 Fscal Year 2 b. Determine the return on stockholders' equity for East Point for fiscal Years 2 and 3 . Round to one decimal place. c. The return on stockholders' equity is the return on total assets due to the use of leverage. d. During fiscal Year 3, East Point's results were compared to the industry average. The return on total assets for East Point was than the industry average. The return on stockholders' equity was than the industry overage. These relationships suggest East Point has leverage than the industry, on average

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