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For fiscal year 2020, Cinrich Products had income as follows: Sales $54,300,000 Less: Cost of goods sold Selling and administrative expense Interest expense Income before
For fiscal year 2020, Cinrich Products had income as follows: Sales $54,300,000 Less: Cost of goods sold Selling and administrative expense Interest expense Income before taxes 39,000,000 5,780,000 1,030,000 8,490,000 2,122,500 $6,367,500 Less income taxes Net income Total assets were $98,000,000, and noninterest-bearing current liabilities were $3,300,000. The company has a required rate of return on invested capital equal to 10 percent and a tax rate of 25 percent. Calculate NOPAT, invested capital, and ROI for Cinrich Products. (Round ROI to 2 decimal places, e.g. 15.25.) NOPAT $ Invested capital $ ROI Comment on the company's profitability. The company performing well
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