the 2015 results both disappointed and puzzled Carl Randall. Return on assets fell from 5.7 percent to 5.4 percent, and gross return dropped from 9.5 percent to 9.4 percent. At the same time, return on sales (net income divided by sale) rose from 5.1 percent to 5.5 percent, and return on owners' equity also increased, from 9.1 to 9.2 percent. The Professional Service Division easily exceeded the 12 percent gross return target; but Industrial Products' return was only 6.9 percent (see Exhibit 4). These results prompted Randall to say to Hubbard