Lofty Inns reported these figures for 2020 and 2019 (in millions): Evaluate Lofty's return on assets and

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Lofty Inns reported these figures for 2020 and 2019 (in millions): image text in transcribed

Evaluate Lofty's return on assets and return on equity for 2020. What additional information would help you make this evaluation?
Account for the issuance of shares and report shareholders' equity

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Financial Accounting

ISBN: 9780135433065

7th Canadian Edition

Authors: Walter Harrison, Wendy Tietz, C. Thomas, Greg Berberich, Catherine Seguin

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Question Posted: May 10, 2024 09:00 AM

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Lofty Inns reported these figures for 2020 and 2019 (in millions): Evaluate Lofty's return on assets and

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Balance sheet 2020 2019 Total assets. $27,000 $18.400 Common share capital. 13 389 Retained earnings 11.525 16.523 Other shareholders' equity.. (3,008) (9,300) Income statement Net sales. $30,500 $28,200 Operating income. 4,022 3,819 Net income. 2,100 1,546

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Financial Accounting

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