Question
Consider the following condensed financial statements of Secure Life comma Inc. Secure Life, Inc. The company's target rate of return is 10%: Requirement 1. Calculate
Consider the following condensed financial statements of Secure Life comma Inc. Secure Life, Inc.
The company's target rate of return is 10%:
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 | |||
/ | = | % |
Data Table
Secure Life, Inc. | ||
Income Statement | ||
For the Year Ended December 31, 2018 | ||
Net Sales Revenue | $2,000,000 | |
Cost of Goods Sold | 1,650,000 | |
Gross Profit | 350,000 | |
Operating Expenses | 250,000 | |
Operating Income | 100,000 | |
Other Income and (Expenses): | ||
Interest Expense | (18,000) | |
Income Before Income Tax Expense | 82,000 | |
Income Tax Expense | 28,700 | |
Net Income | $53,300 |
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