Financial information for Magic Ltd. is as follows: Magic Itd. Balnce Sheet (Partial) 2015 Assets Cash...

 

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Financial information for Magic Ltd. is as follows: Magic Itd. Balnce Sheet (Partial) 2015 Assets Cash Accounts receivables Inventory 2016 Land (undeveloped) Total assets Plant and equipment, net $823,000 $809,000 Investments in P ltd. $404,000 $439,000 Magic Itd. Income Statement Sales $149,000 Operating expenses $490,000 Net operating income $763,960 $144,000 $351,000 $580,000 $490,000 Interest and taxes: Determine return on investment for 2016. Interest expense Tax expense $267,000 $261,000 $2.569.000 $2.638.000 Net income $4,513,000 $3,749,040 $149,000 $222,500 $392.460 Financial information for Magic Ltd. is as follows: Magic Itd. Balnce Sheet (Partial) 2015 Assets Cash Accounts receivables Inventory 2016 Land (undeveloped) Total assets Plant and equipment, net $823,000 $809,000 Investments in P ltd. $404,000 $439,000 Magic Itd. Income Statement Sales $149,000 Operating expenses $490,000 Net operating income $763,960 $144,000 $351,000 $580,000 $490,000 Interest and taxes: Determine return on investment for 2016. Interest expense Tax expense $267,000 $261,000 $2.569.000 $2.638.000 Net income $4,513,000 $3,749,040 $149,000 $222,500 $392.460

Answer rating: 100% (QA)

Given Investments in P ltd 2016 404000 Net income 2016 261000 To calculate Return on Invest... View the full answer