The following is the balance sheet and income statement for YUM, Inc. (the company that operates Kentucky Fried Chicken and Pizza Hut), in condensed form, plus some information from the cash flow statement.

Required:
Calculate the following ratios for YUM in 2012 and 2013.
a) Gross Margin percent
b) Return on Assets
c) Return on Equity

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YUM (millions) Balance Sheet Cash and short term Investments Accounts receivable Inventory Other Current Assets Long-lived Assets Total Assets 2013 S 573 319 294 505 7,004 8,695 2012 S 776 301 313 535 7,088 9,013 2011 S 1.198 286 273 564 6,513 8,834 2,265 6,427 39 2,229 8,695 2,279 6,701 59 2,253 9,013 2,450 Current liabilities Total Liabilities Non-controlling interest Share holders Equity Total Debt and Equity 6,918 1,916 8,834 Income Statement Sales Cost of Sales Gross Margin Eamings before interest and taxes Interest 13,084 9,501 3,583 1,798 247 487 (27) 1,091 13,632 9.852 3.780 2,294 149 537 12,626 9,140 3.486 1,815 156 324 16 1,319 laxeS Non-controlling interest Net Income 1,597 Share Price Eamings per share Number of outstanding shares (millions) S74 2.41 443 S65 3.46 451 S 59 2.81 460 Cash Flows Cash flow from operations Capital expenditures Dividends 2,139 886 615 2,294 1,005 544