$12$

Exercise $22-14($Algo$)$ Return on investment LO A$1,$ A$2$

A company reports the following for the past year.

$0\mathrm{.}55$ points

Sales

Income

Average assets

$$10,100,000$

$3,838,000$

$20,200,000$

The company's CFO believes that income for next year will be $$4,605,600.$ Average assets will be the same as the past year.

Compute return on investment for the past year.

If the CFO's forecast is correct, what will return on investment be for next year?

Complete this question by entering your answers in the tabs below.

Required $1$

Compute return on investment for the past year.

$\backslash$table$[[$Return on Investment$],[$Numerator:$,1,$Denominator:,,$],[,1,,=,$Return on investment$],[,1,,=,]]$

Exercise $22-14($Algo$)$ Return on investment LO A$1,$ A$2$

A company reports the following for the past year.

$\backslash$table$[[$Sales$,$$$10,100,000$