Computing, Analyzing, and Interpreting Return on Equity Canadian Tire Corporation, Limited operates retail stores in Canada that sell general merchandise, clothing, and sporting goods. Total stockholders’ equity for Canadian Tire (in millions of Canadian dollars)

is $4,994.2 in 2015 and $4,855.5 in 2014. In 2015, Canadian Tire reported net income of $659.4 on sales of $12,279.6.

Required

a. What is Canadian Tire’s return on equity for 2015?

b. What are total expenses for Canadian Tire for 2015?

c. Canadian Tire used cash to repurchase a large amount of its common stock during the period. What motivations might Canadian Tire have for repurchasing its common stock?