P24-21A (similar to) : Question Help Consider the following condensed financial statements of Money Freedom, Inc. The company's target rate of return is 20%: (Click the icon to view the comparative balance sheet.) FE: (Click the icon to view the income statement.) Read the requirements. 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 Average total assets Net sales revenue Operating income Target rate of return Total current liabilities Choose from any list or enter any number in the input fields and then click Check Answer. parts Chock Answers Clear All Check Answer remaining Data Table - X A Data Table - XB company's target rate of return is 20%: bn to view the income statement.) Money Freedom, Inc. Income Statement For the Year Ended December 31, 2018 cimal places. Net Sales Revenue er the amounts to calculate the company's ROI. (Round your calculations to fou 1,500,000 700,000 Cost of Goods Sold Gross Profit 800,000 500,000 Money Freedom, Inc. Comparative Balance Sheet As of December 31, 2018 and 2017 2018 2017 Assets Cash $ 66,000 $ 54,000 Accounts Receivable 51,200 19,800 Supplies 3,000 2,400 Property, Plant, and Equipment, net 323,800 223,800 Patents, net 139,000 117,000 $ 583,000 $ 417,000 Total Assets Liabilities and Stockholders' Equity Accounts Payable $ 19,000 $ 21,000 Short-term Notes Payable 138,000 44,000 Long-term Notes Payable 186,000 116,500 i Requirements - X Operating Expenses Operating Income Other Income and (Expenses): 300,000 (1,700) 1. Interest Expense Income Before Income Tax Expense Income Tax Expense 298,300 104,405 2. Calculate the company's ROI. Round all of your answers to four decimal places. Calculate the company's profit margin ratio. Interpret your results. Calculate the company's asset turnover ratio. Interpret your results. Use the expanded ROI formula to confirm your results from Requirement 1. Interpret your results. Calculate the company's RI. Interpret your results. $ 193,895 of Net Income 5. Print Done Print Done Print Done 10 remaining parts remaining Check