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Fiscal Year 2020 2019 Current Assets $57.000 $58,000 Inventory $27,000 $24,000 Fixed Assets $74,000 $68,000 Total Liabilities $99.000 $91,000 Long-term Liabilities $50.000 $49.000 Income Before

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Fiscal Year 2020 2019 Current Assets $57.000 $58,000 Inventory $27,000 $24,000 Fixed Assets $74,000 $68,000 Total Liabilities $99.000 $91,000 Long-term Liabilities $50.000 $49.000 Income Before Taxes $65,000 $52,000 Net Profit Margin 16.0% 24.3% Tax Rate 21% 21% 2 pts Question 7 What was the return on equity for MFDC in 2020? (answer in percentage form, for example, answer 12.3 if you determined the return on equity was 12.3%) 2 pts Question 8 If you were to prepare a common-sized income statement for MFDC, what value would you show for the income Before Taxes in 2019? (answer in percentage form, for example, answer 12.3% if you determined the common sized Income Before Taxes was 12.3%)

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