Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Consider the following condensed financial statements of Money Freedom, Inc. The company's target rate of return is 30%: Click the icon to view the comparative

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Consider the following condensed financial statements of Money Freedom, Inc. The company's target rate of return is 30%: 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 X.XX%) ROI % Consider the following condensed financial statements of Money Freedom, Inc. The company's target rate of return is 30%. (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. X.XX%) ROI % Average total assets Net sales revenue Operating income Target rate of return Total current liabilities = Homework: Chapter 24 Homework Question 4, P24-21A (sl. Part 1 of 11 Consider the following condensed financial statements of Money Freedom, Inc. The company's target rate of retum is 30% (Click the icon to view the comparative balance sheet) (Click the icon to view the income statement) HW Score: 9%, 1.8 of 20 points O Points: 0 of 5 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. ROL (Round your calculations to four decimal place and enter your final to XXX%) ROI Data table - X st hundredth Money Freedom, Inc. Comparative Balance Sheet As of December 31, 2018 and 2017 2018 2017 Assets Cash 71,000 $ 59,000 Accounts Receivable 56,200 24.800 Supplies 3,800 3.200 Property, Plant, and Equipment, net 308,000 213.000 Patents, net 149,000 112,000 Total Assets $588,000 $ 412,000 Liabilities and Stockholders' Equity Accounts Payable $ 24,000 $ 26,000 Short-term Notes Payable 143,000 49,000 Long-term Notes Payable 191.000 121.500 Common Stock, no Par 211,000 207.000 Retained Earnings 19,000 8,500 Money Freedom, Inc. Income Statement For the Year Ended December 31, 2018 Net Sales Revenge $ 3,000,000 Cost of Goods Sold 2.650,000 Gross Profit 350,000 Oporating Expenses 50,000 Operating Income 300,000 Other Income and (Expenses) Interest Expense (29,000) Income Before Income Tax Exponse 271,000 Income Tax Expense 94,850 $ Net Incomo 176,150 Print Done

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Robert F. Meigs, Jan R. Williams, Mark S. Bettner, Susan F. Haka, Sue Haka

11th Edition

0072516682, 978-0072516685

More Books

Students also viewed these Accounting questions

Question

In Problems find the value of each combination. 52 C 1

Answered: 1 week ago