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5 Homework 5 Saved Book Print "erences Exercise 16-11 (Algo) Financial Ratios for Assessing Profitability...

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5 Homework 5 Saved Book Print "erences Exercise 16-11 (Algo) Financial Ratios for Assessing Profitability and Managing Debt [LO16-4, LO16-5] Selected financial data from the June 30 year-end statements of Safford Company are given below. Total assets Long-term debt (11% interest rate) Total stockholders' equity Interest paid on long-term debt Net income $5,300,000 $730,000 $ 2,800,000 $ 80,300 $390,000 Total assets at the beginning of the year were $5,100,000; total stockholders' equity was $2.600.000. The company's tax rate is 35% Required: 1. Compute the return on total assets. (Round your percentage answer to 1 decimal place (i.e., 0.1234 should be entered as 12.3).) 2. Compute the return on equity. (Round your percentage answer to 1 decimal place (ie., 0.1234 should be entered as 12.3).) 3. Is financial leverage positive or negative? 1. Return on total assets 2 Return on equity 3. Financial Leverage

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