A company reports the following for the past year. Sales Income Average assets $ 22,720,000 5, 112,000 28,400,000 The company's CFO believes that income for next year will be $6,645,600. 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 Required 1 2 Compute return on investment for the past year. Return on Investment | Denominator: Numerator: 1 = Return on investment 1 0 A company reports the following for the past year. Sales $ 22,720,000 Income 5,112,000 Average assets 28,400,000 The company's CFO believes that income for next year will be $6,645,600. 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 Required 1 2 If the CFO's forecast is correct, what will return on investment be for next year? Return on Investment Numerator: | Denominator: 1 Return on Investment 1 = =