A company reports the following for the past year. Sales Income Average assets $ 19,360,000 3,388,000 24,200,000 The company's CFO believes that income for next year will be $4,404,400. Average assets will be the same as the past year. 1. Compute return on investment for the past year. 2. If the CFO's forecast is correct, what will return on investment be for next year? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute return on investment for the past year. Return on Investment Numerator: Denominator: Average assets Income = Return on investment = 0 < Required 1 Required 2 > A company reports the following for the past year. Sales Income Average assets $ 19,360,000 3,388,000 24,200,000 The company's CFO believes that income for next year will be $4,404,400. Average assets will be the same as the past year. 1. Compute return on investment for the past year. 2. If the CFO's forecast is correct, what will return on investment be for next year? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute return on investment for the past year. Return on Investment Numerator: Denominator: Average assets Income = Return on investment = 0 < Required 1 Required 2 >