Question
Consider the following condensed financial statements of Safe Money comma Inc.Safe Money, Inc. The company's target rate of return is 3030%: LOADING... (Click the icon
Consider the following condensed financial statements of
Safe Money comma Inc.Safe Money, Inc.
The company's target rate of return is
3030%:
LOADING...
(Click the icon to view the comparative balance sheet.)
LOADING...
(Click the icon to view the income statement.)Read the requirements
LOADING...
.
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 | |||
| / |
| = |
| % |
Choose from any list or enter any number in the input fields and then click Check Answer.
| Clear All | Check Answer
|
Data Table
Safe Money, Inc. | ||||
Comparative Balance Sheet | ||||
As of December 31, 2018 and 2017 | ||||
| 2018 | 2017 | ||
Assets | ||||
Cash | $68,000 | $56,000 | ||
Accounts Receivable | 53,200 | 21,800 | ||
Supplies | 5,000 | 4,400 | ||
Property, Plant, and Equipment, net | 315,800 | 217,800 | ||
Patents, net | 143,000 | 115,000 | ||
Total Assets | $585,000 | $415,000 | ||
Liabilities and Stockholders' Equity | ||||
Accounts Payable | $21,000 | $23,000 | ||
Short-term Notes Payable | 140,000 | 46,000 | ||
Long-term Notes Payable | 188,000 | 118,500 | ||
Common Stock, no Par | 220,000 | 222,000 | ||
Retained Earnings | 16,000 | 5,500 | ||
Total Liabilities and Stockholders' Equity | $585,000 | $415,000 |
PrintDone
Data Table
Safe Money, Inc. | ||
Income Statement | ||
For the Year Ended December 31, 2018 | ||
| Net Sales Revenue | $5,000,000 |
| Cost of Goods Sold | 2,800,000 |
| Gross Profit | 2,200,000 |
| Operating Expenses | 1,850,000 |
| Operating Income | 350,000 |
| Other Income and (Expenses): |
|
| Interest Expense | (42,000) |
| Income Before Income Tax Expense | 308,000 |
| Income Tax Expense | 107,800 |
| Net Income | $200,200 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started