Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. for fiscal year 2017, crown point products had inc

For fiscal year 2017, Crown Point Products had income as follows: Sales $56,000,000 Less: Cost...

50.1K

Verified Solution

Question

Accounting

For fiscal year 2017, Crown Point Products had income as follows: Sales $56,000,000 Less: Cost of goods sold 38,200,000 Selling and administrative expense 5,610,000 Interest expense 1,010,000 Income before taxes 11,180,000 Less income taxes 3,913,000 Net income $7,267,000 Total assets were $96,000,000, and noninterest-bearing current liabilities were $3,600,000. The company has a required rate of return on invested capital equal to 10 percent. Calculate NOPAT, invested capital, and ROI for Crown Point Products. (Round ROI to 2 decimal places, e.g. 15.25%.) NOPAT $ Invested capital $ ROI % Comment on the companys profitability. The company performing well.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students