Consider the following information for Vermillion Stores for 2017 and 2018:
2017
2018
Total assets
$59,800,000 $54,019,820
Noninterest-bearing current liabilities
4,349,200
4,724,000
Net income
3,611,100
5,030,700
Interest expense
2,425,000
3,065,560
Sales
66,000,000
96,250,000
Tax rate
36%
36%
Compute ROI for both years. (Round answers to 2 decimal places, e.g. 15.32%).
ROI
LINK TO TEXT
2017
%
2018
%
Break ROI down into profit margin and investment turnover. (Round answers to 4 decimal places, e.g.
15.3215.)
Profit margin
Investment turnover
2017
2018