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

Data Table 2017 Secure Life, Inc. Comparative Balance Sheet As of December 31, 2018 and 2017 2018 Assets Cash $ 70,000 $ Accounts Receivable 55,200 Supplies 4,800 Property, Plant, and Equipment, net 310,000 Patents, net 147,000 $ 587,000 $ Total Assets Liabilities and Stockholders' Equity Accounts Payable $ 23,000 $ Short-term Notes Payable 142,000 Long-term Notes Payable 190,000 Common Stock, no Par 214,000 Retained Earnings 18,000 $ 587,000 $ Total Liabilities and Stockholders' Equity 58,000 23,800 4,200 214,000 113,000 413,000 25,000 48,000 120,500 212,000 7,500 413,000 Print Done