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Marx Mills is a division of Iowa Woolen Products. For the most recent year, Marx had net income of $20,000,000. Included in income was interest
Marx Mills is a division of Iowa Woolen Products. For the most recent year, Marx had net income of $20,000,000. Included in income was interest expense of $1,500,000. The operation's tax rate is 40 percent. Total assets of Marx Mills are $233,000,000, current liabilities are $52,800,000, and $37,000,000 of the current liabilities are noninterest bearing.
Calculate NOPAT, invested capital, and ROI for Marx Mills. (Round ROI to 2 decimal places, e.g. 15.25%.)
NOPAT $________________
Invested capital $________________
ROI _________________%
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