Consider the following information for HandyCraft Stores for 2020 and 2021: Required a. Compute ROI for both
Question:
Consider the following information for HandyCraft Stores for 2020 and 2021:
Required
a. Compute ROI for both years.
b. Break ROI down into profit margin and investment turnover.
c. Comment on the change in financial performance between 2020 and 2021.
Transcribed Image Text:
2020 2021 Total assets $59,500,000 $56,430,000 Noninterest-bearing current liabilities Net income 4,400,000 4,950,000 3,650,000 4,950,000 Interest expense 2,420,000 2,975,000 Sales 66,000,000 96,250,000 Tax rate 20% 20%
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a 2020 2021 Net income 3650000 4950000 Pus interest 2420000 2975000 Less tax effect of int...View the full answer
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