2019/2020 Student Name: Student Number: Flingers Inc. reveals the following information in their annual report for FY 2018 Earnings and Expenses Sales Cost of goods sold Pretax earnings $10,000,000 $5,000,000 $500,000 Selected Balance Sheet Items Merchandise inventory Total assets $80,000 $2,000,000 1. What is Flingers' return on assets? A) 16% B) 20% C) 25% D) 40% 2. What is Flingers' profit margin? A) 5% B) 16% C) 2% D) 4% 3. Every dollar Flingers saves in purchasing has the same impact as what amount of increased sales? A) $10 B) $14 C) $17 D) $20 4. Upper management plans to cut cost of goods sold by 5% for the coming year but retain the same sales. What will Flingers' return on assets figure be for 2018 A) 26% B) 29% C) 33% D) 38% 5. Upper management plans to cut cost of goods sold by 5% for the coming year but retain the same sales. What will Flingers' profit margin be for 2018