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The following scenario, War Eagle Brewery Scenario 1, applies to the next 3 questions: The War Eagle Brewery will end 2018 with Sales Revenue of $1,000,000 and COGS of $600,000. Total Overhead, otherwise known as Operating Expenses, is $150,000. Inventory has averaged $50,000 throughout the year and is at the same level at year-end. Net A/R is $75,000, Cash-on-Hand is $50,000, and there are no Pre-Paid Expenses. Fixed Assets are at $325,000. Assume there is no interest or taxes, so EBIT and Net Income will be the same. Financial ratio formulas are as follows: Gross Profit = Sales - COGS Total OH = Fixed OH + Variable OH Total Current Assets = Inventory + Net A/R + Cash on Hand + Pre-paid Expenses Total Assets = Total Current Assets + Fixed Assets Net Income = Gross Profit - Total OH Cost Profit Margin % = 100* Net Income / Sales Asset Turnover % = 100 * Sales/Total Assets ROA% = 100 * Net Income / Total Assets Inventory Turns = COGS / Average Inventory Question 39 5 pts What is the Net Income in War Eagle Brewery Scenario 1? O $150,000 O $200,000 O $250,000 O $300,000 O $400,000 Question 40 5 pts What is the ROA in War Eagle Brewery Scenario 1? 25% 50% 75% 80% 100% Question 41 5 pts How many Inventory Turns were achieved in War Eagle Brewery Scenario 1? 10 12 O 14 O 16 18