Consider the following condensed financial statements of Forever Free, Inc. The company's target rate of return is 40%: (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%) - ROI % P24-29A (book/s - X - X Data Table i Data Table Consider the following con H (Click the icon to view of return is 4d e statement.) Read the requirements. Forever Free, Inc. Income Statement Forever Free, Inc. Comparative Balance Sheet Requirement 1. Calculate As of December 31, 2018 and 2017 balculate the co 2018 2017 st Begin by selecting the forn hundredth of a percent, X. For the Year Ended December 31, 2018 Net Sales Revenue $ 3,500,000 Cost of Goods Sold 2,200,000 Gross Profit 1,300,000 Assets Cash $ 64,000 $ 52,000 950,000 Accounts Receivable 49,200 17,800 350,000 1,000 400 Supplies Property, Plant, and Equipment, net 331,800 229,800 Operating Expenses Operating Income Other Income and (Expenses): Interest Expense Income Before Income Tax Expense Income Tax Expense Patents, net 135,000 119,000 (27,000) 323,000 113,050 Total Assets $ 581,000 $ 419,000 Liabilities and Stockholders' Equity Choose from any list or e Print Done Print Done Annarts . i i Requirements 2. 1. Calculate the company's ROI. Round all of your answers to four decimal places. 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. Print Done