Question: Compute ROE ROA and Nonoperating Return The following data are from three recent fiscal years FY for Seneca Foods Corporation Use this information to answer
Compute ROE ROA and Nonoperating Return The following data are from three recent fiscal years FY for Seneca Foods Corporation Use this information to answer the requirements Assume the statutory tax rate is 22 Selected information thousands FY3 FY2 FY1 Net sales 1660287 1523808 Operating revenues 1660287 1523808 Operating expenses 1529237 1388846 Nonoperating expenses 15041 5923 Nonoperating revenues 7435 10232 Tax expense 33282 32013 Net earnings 90162 107258 Operating assets 1288396 976654 882898 Operating liabilities 184513 203581 178334 Nonoperating liabilities 541701 195931 186352 Nonoperating assets 17445 17727 71918 Total equity 579627 594869 590130 a Compute the following measures for fiscal year FY3 Round intermediate calculations to the nearest whole dollar Numerator Denominator Result a Return on equity Answer 1 Net earnings Answer 2 Average equity ROE Answer 3 90162 Answer 4 587248 1535 b Return on net operating assets Answer 5 NOPAT Answer 6 Average NOA RNOA Answer 7 76298 Answer 8 938478 813 c What is the nonoperating return component of ROE for fiscal year FY3 Answer 9 722
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