Exercise $12-8$ Calculating ROI $-$ SEE TEXIBOOK PAGE $12-29$

For fiscal year $2020,$ LaundryMate Products had income as follows:

Sales

Less:

Cost of goods sold

Selling and administrative expense

Interest expense

Inceme before taxes

Less income taves

Net income

Other partinent information for $2020$ follows:

Total assets

Noninterest$-$bearing current liabilities

Required rate of return on invested capital

$55,000,000$

Required

Calcula:e NOPAT, invested capital, and ROI for LaundryMate Products.

Income tax rate $=$

$$97,000,000$

$3,200,000$

$10$;$6$

NOPAT $=$

xi

$1$

Invested capital $=$

This cell $($G$23)$ can be formatted as $1$

ROI$=$