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Consider the following information for HandyCraft Stores for 2014 and 2015: Total assets Noninterest-bearing current liabilities 4,480,000 Net income Interest expense Sales 2014 2015 $59,700,000 $56,200,000 4,970,000 3,620,000 4,900,000 2,410,000 2,970,000 66,000,000 96,250,000 40% 40% Tax rate Compute ROI for both years.

Consider the following information for HandyCraft Stores for 2014 and 2015: Total assets Noninterest-bearing current liabilities 4,480,000 Net income Interest expense Sales 2014 2015 $59,700,000 $56,200,000 4,970,000 3,620,000 4,900,000 2,410,000 2,970,000 66,000,000 96,250,000 40% 40% Tax rate Compute ROI for both years.

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 information for HandyCraft Stores for 2014 and 2015: Total assets Noninterest-bearing current liabilities 4,480,000 Net income Interest expense Sales 2014 2015 $59,700,000 $56,200,000 4,970,000 3,620,000 4,900,000 2,410,000 2,970,000 66,000,000 96,250,000 40% 40% Tax rate Compute ROI for both years.
Transcribed Image Text:Consider the following information for HandyCraft Stores for 2014 and 2015: Total assets Noninterest-bearing current liabilities 4,480,000 Net income Interest expense Sales 2014 2015 $59,700,000 $56,200,000 4,970,000 3,620,000 4,900,000 2,410,000 2,970,000 66,000,000 96,250,000 40% 40% Tax rate Compute ROI for both years.
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