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13. Consider the following condensed financial statements of Secure Life, Inc. The company's target rate of return is 20% (Click the icon to view the

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13. Consider the following condensed financial statements of Secure Life, Inc. The company's target rate of return is 20% (Click the icon to view the comparative balance sheet.) ?(Click the icon to view the income statement.) Read the requirements Requirement 1. Calculate the company's ROI. Round all of your answers to four decimal places. Begin by selecting the formula to calculate return on investment (ROI), and then enter the amounts to calculate the company's ROI. (Round your calculations to four decimal places and enter your final to the nearest hundredth of a percent, X.XX%) (1) (2) ROI % 1: Data Table Secure Life, Inc. Comparative Balance Sheet As of December 31, 2024 and 2023 2024 2023 Assets Cash Accounts Receivable Supplies Property, Plant, and Equipment, net Patents, net $ 69,000 $ 57,000 54,200 22,800 5,800 5,200 312,000 215,000 145,000 114,000 $ 586,000 $ 414,000 Total Assets Liabilities and Stockholders' Equity Accounts Payable $ 22,000 $ 24,000 Short-term Notes Payable 141,000 47,000 Long-term Notes Payable 189,000 119,500 Common Stock, no Par 217,000 217,000 Retained Earnings 17,000 6,500 Total Liabilities and Stockholders' Equity $ 586,000 $ 414,000 Secure Life, Inc. Income Statement For the Year Ended December 31, 2024 Net Sales Revenue 4,500,000 Cost of Goods Sold 2,300,000 Gross Profit 2,200,000 Operating Expenses 1.750,000 Operating Income 450,000 Other Income and (Expenses): Interest Expense (41,000) Income Before Income Tax Expense 409,000 Income Tax Expense 143,150 Net Income 265,850 3: Requirements 1. Calculate the company's ROI. Round all of your answers to four decimal places. 2. Calculate the company's profit margin ratio. Interpret your results. 3. Calculate the company's asset turnover ratio. Interpret your results. 4. Use the expanded ROI formula to confirm your results from Requirement 1. Interpret your results. 5. Calculate the company's RI. Interpret your results. Target rate of return Total current liabilities (1) O Average total assets Net sales revenue Operating income Target rate of return Total current liabilities Average total assets Net sales revenue Operating income

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