Lexington Inns reported these figures for 2017 and 2016 (in millions): Requirements 1. Compute Lexington's return on
Question:
Lexington Inns reported these figures for 2017 and 2016 (in millions):
Requirements
1. Compute Lexington's return on assets and return on equity for 2017.
2. Do these rates of return suggest strength or weakness? Give your reason.
3. What additional information do you need to make the decision in requirement 2?
Transcribed Image Text:
2017 2016 Balance sheet 15,702 $13,728 680 Total assets Common share capital Retained earnings Other shareholders' equity... 80) 11519 16,499 (3,005) 9,095) Income statement Net sales.. $25,500 $27,500 3,813 1,550 4,025 1,500
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Req 1 680 16499 9095 8084 80 11519 3005 8594 Req 2 These profitability measures suggest re...View the full answer
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Related Book For
Financial Accounting
ISBN: 978-0134564142
6th Canadian edition
Authors: Walter Jr. Harrison, Charles T. Horngren, C. William Thomas, Greg Berberich, Catherine Seguin
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