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|Subject: Re: Help on Accounting Question||Date: 11/30/2007 11:39 AM|
|Author: irasmilo||Number: 245 of 252|
Find the ROA on the following scenario:
Year 2006 2005 2004
Net income 2787 2229 2999
(I'm thinking yeah, what's the problem)
And then the balance sheet has dates of
February 3, 2007 January 28, 2006
Assets 27,249 34996
The periods don't match up. What gives? How can you do averages when the periods don't mesh.
What am I missing besides the obvious?
The company is probably a retail operation using a 52-53 week fiscal year. The dates match up -- F/Y 2006 was 1/29/06-2/3/07. F/Y 2005 was 1/29/05-1/28/06.
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