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Trgritabulity Futios East Point Retail, Inc., selis apparel through compsny-owned retail stores. Finanoisl information for...

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Accounting

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Trgritabulity Futios East Point Retail, Inc., selis apparel through compsny-owned retail stores. Finanoisl information for East Point follows (in thousands). Assume the apparel industry average return on total assets is 8,0%, and the average return on stockhalders' equity is 1 s. ow for the year ended Agril 2 , Vear 1. a. Detertnine the return on tots assets for [ast Point for fiscal Years 2 and J. Round your answers to one decimal place. b. Determine the retum on stockhosien' equity for East Point for fiscel Years 2 and 3. Round your answers to one decimal place. Fiscal Year 3 Fiscal Yoar 2 c. The retum on stockhatders equity is the retuin on total assets oue to the use of ieveroge. d. During fiecal Yeer 3, East Point's resulti were compared to the industry average. The return on tatal assta for Eost Point was than the industry average. The return on stockholders equity was than the industry average. These relationahips suggest that East Point hos leveroge than the industry on average

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