Suppose Kincade, Inc., one of the nation's largest grocery retailers, reported the following information (adapted)...
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Suppose Kincade, Inc., one of the nation's largest grocery retailers, reported the following information (adapted) for its fiscal year ended January 31, 2020: (Click the icon to view the data.) Requirements 1. Compute return on assets for the year ended January 31, 2019, and 2020. 2. Did return on assets improve or deteriorate? What are some possible causes for this change? Requirement 1. Compute return on assets for the year ended January 31, 2019, and 2020. Begin by identifying the formula to calculate return on assets. Then compute the return on assets for the year ended January 31, 2019, and 2020. (Round your answer to two decimal places.) Return on assets (ROA) % 2019 ( - X 2020 ( % Data table January 31, January 31, 2019 2020 $ 52,000 $ 50.650 $ 2,275 $ 2,125 Net sales Net earnings Interest expense Average total assets $ 10 $ 10 $ 32,000 $ 31,650 Print Done
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