Question: 8. Answer with complete excel solutions please! Question 8 1 pts Mienfoo Catering Company increased its ROI from 25% to 30%. Net operating income and

8. Answer with complete excel solutions please!

Question 8 1 pts Mienfoo Catering Company increased its ROI from 25% to 30%. Net operating income and sales remained at their previous levels of P75,000 and P1,500,000 respectively. The increase in ROI was attributed to a reduction in operating assets brought about by the sale of obsolete inventory at cost (the proceeds from the sale were used to reduce bank loans). Inventory was reduced by P

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