Consider the following condensed financial statements of Life Long, Inc. The company's target rate of return is 20%: E: (Click the icon to view the comparative balance sheet.) (Click the icon to view the income statement.) i Requirements Data Table 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. Life Long, Inc. Comparative Balance Sheet As of December 31, 2018 and 2017 2018 2017 Assets Cash 82,000 $ 71,000 Print Done Accounts Receivable 61,600 27,500 400 500 Supplies Property, Plant, and Equipment, net Patents, net Data Table 299,000 197,000 158,000 103,000 $ 601,000 $ 399,000 Total Assets Life Long, Inc. Income Statement For the Year Ended December 31, 2018 Net Sales Revenue $ 10,000,000 Liabilities and Stockholders' Equity Accounts Payable $ 31,000 $ 33,000 Short-term Notes Payable 149,000 49,000 Long-term Notes Payable 199,000 129,000 Common Stock, no Par 201,000 168,500 Retained Earnings 21,000 19,500 Total Liabilities and Stockholders' Equity $ 601,000 $ 399,000 Cost of Goods Sold 5,900,000 Gross Profit 4,100,000 3,800,000 300,000 Print Done Operating Expenses Operating Income Other Income and (Expenses): Interest Expense Income Before Income Tax Expense Income Tax Expense (40,000) 260,000 91,000 Net Income $ 169,000