Question
For fiscal year 2014, LaundryMate Products had income as follows: Sales $54,600,000 Less: Cost of goods sold 38,400,000 Selling and administrative expense 5,780,000 Interest expense
For fiscal year 2014, LaundryMate Products had income as follows: Sales $54,600,000 Less: Cost of goods sold 38,400,000 Selling and administrative expense 5,780,000 Interest expense 1,060,000 Income before taxes 9,360,000 Less income taxes 3,276,000 Net income $6,084,000 Total assets were $99,000,000, and noninterest-bearing current liabilities were $3,700,000. The company has a required rate of return on invested capital equal to 10 percent. Calculate NOPAT, invested capital, and ROI for LaundryMate Products. (Round ROI to 2 decimal places, e.g. 15.25%.) NOPAT $ Invested capital $ ROI %
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