Lorraine's Limos reports net income of $118,000, average total assets of $580,000, and average total...
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Lorraine's Limos reports net income of $118,000, average total assets of $580,000, and average total liabilities of $220,000. Calculate Lorraine's return on assets and return on equity ratios. Perform a horizontal analysis providing both the amount and percentage change. (Round your Percentage answers to 1 decimal place. Decreases should be indicated by a minus sign.)
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