Harley-Davidson, Inc. (HOG), is a leading motorcycle manufacturer in the United States. The company manufactures and sells a number of different types of motorcycles, a complete line of motorcycle parts, and brand-related accessories, clothing, and collectibles.
The following information is available for three recent years (in millions except per-share amounts):

1. Calculate the following ratios for each year. Round to one decimal place except dollar amounts, which should be rounded to the nearest cent.
a. Return on total assets
b. Return on stockholders' equity
c. Earnings per share
d. Dividend yield
e. Price-earnings ratio using the average price per share of stock.
2. What is the average debt ratio and the ratio of average liabilities to average stockholders' equity for Years 1, 2, and 3?
3. Comment on the results in (1) and (2).

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Year 3 Year 2 Year 1 Net income (loss) Preferred dividends Interest expense Shares outstanding for computing $752 None $12 $845 None $4 $734 None $45 earnings per share Cash dividend per share Average total assets Average stockholders' equity Average stock price per share 203 $1.24 $9,760 $2,374 $54.63 216 $1.10 $9,467 $2,959 $64.58 $0.84 $9,288 $2,784 $56.47