(3) Return on Assets Ratio: Net Income before interest and taxes (net income+ interest expense+ tax expense) / Avg Total Assets

2004: (64,174+912 + 30,514) / [(811,753 + 665,297) / 2] = 12.94 %

2003: (65,014 + 172 +32,933) / [(665,297 + 646,080) / 2] = 14.96%

^--- check that equation.. the equation listed in my old textbook states: net income before interest and taxes/ avg total assets