Macon Mills is a division of Bolin Products, Inc. During the most recent year, Macon had a net income of $37 million. Included in the income was interest expense of $2,500,000. The company's tax rate was 40%. Total assets were $472 million, current liabilities were $105,000,000, and $68,000,000 of the current liabilities are noninterest bearing. What are the invested capital and ROI for Macon? Enter your answer in whole dollar. Round "ROI" answer to two decimal places. Invested Capital $ ROI %

Macon Mills is a division of Bolin Products, Inc. During the most recent year, Macon had a net income of $37 million. Included in the income was interest expense of $2,500,000. The company's tax rate was 40%. Total assets were $472 million, current liabilities were $105,000,000, and $68,000,000 of the current liabilities are noninterest bearing. What are the invested capital and ROI for Macon? Enter your answer in whole dollar. Round "ROI" answer to two decimal places. Invested Capital $ ROI %

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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Macon Mills is a division of Bolin Products, Inc. During the most recent year, Macon had a net income of $38 million. Included in the income was interest expense of $3,300,000. The company's tax rate was 40%. Total assets were $465 million, current liabilities were $109,000,000, and $67,000,000 of the current liabilities are noninterest bearing. What are the invested capital and ROI for Macon? Enter your answer in whole dollar. Round "ROI" answer to two decimal places.
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