Lofty Exploration Company reported these figures for 2012 and 2011: Requirements 1. Compute rate of return on

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Lofty Exploration Company reported these figures for 2012 and 2011:

2012 2011 Income Statement-partial: Interest expense 12,400,000 17,400,000 Net Income 17,900,000 19,100,000 2012 2011 Ba

Requirements
1. Compute rate of return on total assets and rate of return on common stockholders€™ equity for 2012.
2. Do these rates of return suggest strength or weakness? Give yourreason.

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Related Book For  answer-question

Financial and Managerial Accounting

ISBN: 978-0132497978

3rd Edition

Authors: Horngren, Harrison, Oliver

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