To: Professor Judy Beers

The last part of the DuPont Analysis is the equity multiplier. According to the data, the equity multiplier has decreased from 3.13 in 2004 to 2.23 in 2005. This decreased amount is now below the industry average of 3.16. This is a good sign because it shows that the organization is relying less on debt to finance its asset base. Ratio Analysis ................
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