Calculate and disaggregate Disney's return on common equity for each of the two fiscal years ending September 30, Year 9, and September 30, Year 13 (use year-end figures for any ratio computations typically using averages).

9:46 M 840 & . 5G UC .Ill 46% % Q AA R . . . I Cal 10), DISTICY VIVLE UIT LIC TUII carrying value of Euro Disney. The charge was $350 million ($218 million after tax). WALT DISNEY COMPANY Selected Financial Statement and Other Data Years Ending September 30 ($ millions except per share data) Year 13 Year 9 Income Statement Revenue . .. . . . . . .. $ 8,529 $4,594 Operating expenses . ... . ... (6,968) (3,484) Interest expense . ... (158 (24) Investment and interest income . . . .. . . . . . .. 186 67 Income (loss) from Euro Disney. .. . . . . . . . . . . (515 0 Pretax income. .. 1,074 1.153 Taxes. ... 403) (450) Net income . . .. .. .. $ 671 $ 703 Earnings per share . .. $ 1.23 $ 1.27 Dividends per share . $ 0.23 $ 0.11 Balance Sheet Cash . . .. .. . . ... 363 $ 381 Receivables ..... 1,390 224 Inventories . 609 909 Other. . .... 1,889 562 Current assets . .. .251 2,176 Property, plant, and equipment, net . . . . . . . .. 5,228 3,397 Other assets . .... 2,272 1.084 Total assets $11,751 $6,657 Current liabilities . ... $ 2,821 $1,262 Borrowings . ..... 2.386 861 Other liabilities. ........ . . . . . . . . . . . 1,514 1,490 Stockholders' equity . ... 5,030 3,044 Total liabilities and stockholders' equity. . .... $11,751 $6.657 Cash Flow from Operations . .. $ 2,145 $1,275 Other Data Common shares outstanding (millions) ...... 544 552 Closing price, common stock per share ...... $ 37.75 $30.22 Note: Total assets except "other" current assets, current liabilities, and other Nabilities are considered operating, as is the Euro Disney loss. Required: Page 500 a. Calculate and disaggregate Disney's return on common equity for each of the two fiscal years ending September 30, Year 9, and September 30, Year 13 (use year-end figures for any ratio 499 / 1 000 O