8 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.)- XData TableRead the requirements......Forever Free, Inc.Requirement 1. Calculate the company's ROI. Round all of your answers to four decimal places.Comparative Balance SheetBegin by selecting the formula to calculate return on investment (ROI), and then enter the amounts to calculate the company's ROI. (RoundX.XX%)As of December 31, 2018 and 201720182017ROIAssets%Cash$64,000 $52,000Accounts Receivable49,20017,800Supplies1,000400Property, Plant, and Equipment, net331,800229,800Patents, net135,000119,000Total Assets$ 581,000 $ 419,000Liabilities and Stockholders' EquityAccounts Payable$17,000 $19,000Short-term Notes Payable136,00042,000Long-term Notes Pavable184.000114.500Choose 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 XData TableRead 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. (RoundX.XX%)Income StatementFor the Year Ended December 31, 2018ROINet Sales Revenue$3,500,000%Cost of Goods Sold2,200,000Gross Profit1,300,000Operating Expenses950.000Operating Income350,000Other Income and (Expenses):Interest Expense(27,000)Income Before Income Tax Expense323,000Income Tax Expense113,050Net Income$209,950

In order to determine the average total assets, beginning total assets and ending total assets are…

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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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