Consider the following information for Steering Stores for 2020 and 2021: 2020 2021 Total assets $66,640,000...

Transcribed Image Text:

Consider the following information for Steering Stores for 2020 and 2021: 2020 2021 Total assets $66,640,000 $63,192,000 Noninterest-bearing current liabilities 4,928,000 5,544,000 Net income 4,088,000 5,544,000 Interest expense 2,704,000 3,340,000 Sales 54,912,000 107,800,000 Tax rate 10% 10% (a) * Your answer is incorrect. Compute ROI for both years. (Round answers to 2 decimal places, e.g. 15.32%.) Consider the following information for Steering Stores for 2020 and 2021: 2020 2021 Total assets $66,640,000 $63,192,000 Noninterest-bearing current liabilities 4,928,000 5,544,000 Net income 4,088,000 5,544,000 Interest expense 2,704,000 3,340,000 Sales 54,912,000 107,800,000 Tax rate 10% 10% (a) * Your answer is incorrect. Compute ROI for both years. (Round answers to 2 decimal places, e.g. 15.32%.)