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Consider the following condensed financial statements of Forever Free, Inc. The company's target rate of return is 40%: E (Click the icon to view the comparative balance sheet.) E (Click the icon to view the income statement.) Data Table Read the requirements. Requirement 1. Calculate the company's ROI. Round all of your answers to four decimal places. Forever Free, Inc. . Comparative Balance Sheet Begin by selecting the formula to calculate return on investment (ROI), and then enter the amounts to calculate the company's ROI. (Round XXX%) As of December 31, 2018 and 2017 ROI 2018 2017 % Assets Cash $ 64,000 $ 52,000 Accounts Receivable 49,200 17,800 Supplies 1,000 400 Property, Plant, and Equipment, net 331,800 229,800 Patents, net 135,000 119,000 Total Assets $ 581,000 $ 419,000 Liabilities and Stockholders' Equity Accounts Payable $ 17,000 $ 19,000 Short-term Notes Payable 136,000 42,000 Lona-term Notes Pavable 184.000 114.500

Consider the following condensed financial statements of Forever Free, Inc. The company's target rate of return is 40%: E (Click the icon to view the comparative balance sheet.) E (Click the icon to view the income statement.) Data Table Read the requirements. Requirement 1. Calculate the company's ROI. Round all of your answers to four decimal places. Forever Free, Inc. . Comparative Balance Sheet Begin by selecting the formula to calculate return on investment (ROI), and then enter the amounts to calculate the company's ROI. (Round XXX%) As of December 31, 2018 and 2017 ROI 2018 2017 % Assets Cash $ 64,000 $ 52,000 Accounts Receivable 49,200 17,800 Supplies 1,000 400 Property, Plant, and Equipment, net 331,800 229,800 Patents, net 135,000 119,000 Total Assets $ 581,000 $ 419,000 Liabilities and Stockholders' Equity Accounts Payable $ 17,000 $ 19,000 Short-term Notes Payable 136,000 42,000 Lona-term Notes Pavable 184.000 114.500

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Consider the following condensed financial statements of Forever Free, Inc. The company's target rate of return is 40%: E (Click the icon to view the comparative balance sheet.) (Click the icon to view the income statement.) - X Data Table Read the requirements. ..... Forever Free, Inc. Requirement 1. Calculate the company's ROI. Round all of your answers to four decimal places. Comparative Balance Sheet Begin by selecting the formula to calculate return on investment (ROI), and then enter the amounts to calculate the company's ROI. (Round X.XX%) As of December 31, 2018 and 2017 2018 2017 ROI Assets % Cash $ 64,000 $ 52,000 Accounts Receivable 49,200 17,800 Supplies 1,000 400 Property, Plant, and Equipment, net 331,800 229,800 Patents, net 135,000 119,000 Total Assets $ 581,000 $ 419,000 Liabilities and Stockholders' Equity Accounts Payable $ 17,000 $ 19,000 Short-term Notes Payable 136,000 42,000 Long-term Notes Pavable 184.000 114.500 Choose from any list or enter any number in the input fields and then click Check Answer
Transcribed Image Text:Consider the following condensed financial statements of Forever Free, Inc. The company's target rate of return is 40%: E (Click the icon to view the comparative balance sheet.) (Click the icon to view the income statement.) - X Data Table Read the requirements. ..... Forever Free, Inc. Requirement 1. Calculate the company's ROI. Round all of your answers to four decimal places. Comparative Balance Sheet Begin by selecting the formula to calculate return on investment (ROI), and then enter the amounts to calculate the company's ROI. (Round X.XX%) As of December 31, 2018 and 2017 2018 2017 ROI Assets % Cash $ 64,000 $ 52,000 Accounts Receivable 49,200 17,800 Supplies 1,000 400 Property, Plant, and Equipment, net 331,800 229,800 Patents, net 135,000 119,000 Total Assets $ 581,000 $ 419,000 Liabilities and Stockholders' Equity Accounts Payable $ 17,000 $ 19,000 Short-term Notes Payable 136,000 42,000 Long-term Notes Pavable 184.000 114.500 Choose from any list or enter any number in the input fields and then click Check Answer
Consider the following condensed financial statements of Forever Free, Inc. The company's target rate of return is 40%: E (Click the icon to view the comparative balance sheet.) E (Click the icon to view the income statement.) - X E X Data Table Read the requirements. Requirement 1. Calculate the company's ROI. Round all of your answers to four decimal places. Forever Free, Inc. Begin by selecting the formula to calculate return on investment (ROI), and then enter the amounts to calculate the company's ROI. (Round X.XX%) Income Statement For the Year Ended December 31, 2018 ROI Net Sales Revenue $ 3,500,000 % Cost of Goods Sold 2,200,000 Gross Profit 1,300,000 Operating Expenses 950.000 Operating Income 350,000 Other Income and (Expenses): Interest Expense (27,000) Income Before Income Tax Expense 323,000 Income Tax Expense 113,050 Net Income $ 209,950
Transcribed Image Text:Consider the following condensed financial statements of Forever Free, Inc. The company's target rate of return is 40%: E (Click the icon to view the comparative balance sheet.) E (Click the icon to view the income statement.) - X E X Data Table Read the requirements. Requirement 1. Calculate the company's ROI. Round all of your answers to four decimal places. Forever Free, Inc. Begin by selecting the formula to calculate return on investment (ROI), and then enter the amounts to calculate the company's ROI. (Round X.XX%) Income Statement For the Year Ended December 31, 2018 ROI Net Sales Revenue $ 3,500,000 % Cost of Goods Sold 2,200,000 Gross Profit 1,300,000 Operating Expenses 950.000 Operating Income 350,000 Other Income and (Expenses): Interest Expense (27,000) Income Before Income Tax Expense 323,000 Income Tax Expense 113,050 Net Income $ 209,950
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