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For fiscal year 2020, Richetti Products had income as follows: Sales $55,700,000 38,500,000 Less: Cost of goods sold Selling and administrative expense Interest expense Income
For fiscal year 2020, Richetti Products had income as follows: Sales $55,700,000 38,500,000 Less: Cost of goods sold Selling and administrative expense Interest expense Income before taxes Less income taxes 5,720,000 1,100,000 10,380,000 3,114,000 $7,266,000 Net income Total assets were $99,000,000, and noninterest-bearing current liabilities were $3,500,000. The company has a required rate of return on invested capital equal to 10 percent and a tax rate of 30 percent. Calculate NOPAT, invested capital, and ROI for Richetti Products. (Round ROI to 2 decimal places, e.g. 0.25.) NOPAT $ Invested capital ROI Comment on the company's profitability. The company performing well
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