The following financial information relates to Smooth Suds Brewery Ltd. (amounts in thousands):

Required:
For each year, calculate the following:
a. Return on shareholders' equity (ROE)
b. Return on assets (ROA), broken down into (i) the profit margin percentage and (ii) the total asset turnover rate
c. Comment on the profitability of Smooth Suds Brewery Ltd.

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2007 2008 2009 Sales Average total assets Average shareholders equity24,664 Net income Interest espense Tax rate 18,360S25,840$36,120 47.340 51,515 3,580 210 30% 23,715 715 120 25% 31.965 32,415 1.845 150 30%