Question: Presented here are summarized data from the balance sheets and income statements of Wiper Incorporated: WIPER INCORPORATED Condensed Balance Sheets December 31, 2023, 2022, 2021

Presented here are summarized data from the balance sheets and income statements of Wiper Incorporated:

WIPER INCORPORATED
Condensed Balance Sheets
December 31, 2023, 2022, 2021
(in millions)
2023 2022 2021
Current assets $ 734 $ 959 $ 813
Other assets 2,421 1,928 1,727
Total assets $ 3,155 $ 2,887 $ 2,540
Current liabilities $ 585 $ 838 $ 731
Long-term liabilities 1,555 1,015 883
Stockholders equity 1,015 1,034 926
Total liabilities and stockholders' equity $ 3,155 $ 2,887 $ 2,540
WIPER INCORPORATED
Selected Income Statement and Other Data
For the Years Ended December 31, 2023 and 2022
(in millions)
2023 2022
Income statement data:
Sales $ 3,058 $ 2,921
Operating income 304 318
Interest expense 92 73
Net income 215 210
Other data:
Average number of common shares outstanding 42.1 47.5
Total dividends paid $ 58.0 $ 53.1

Required:

A. Calculate return on investment, based on net income and average total assets, for 2023 and 2022.

B. Calculate return on equity for 2023 and 2022.

a. Calculate return on investment, based on net income and average total assets, for 2023 and 2022. Note: Do not round intermediate calculations. Round your percentage answers to 1 decimal place (i.e., 0.123 should be entered as 12.3. b. Calculate return on equity for 2023 and 2022. Note: Round your percentage answers to 1 decimal place (i.e., 0.123 should be entered as 12.3.

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