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PROBLEM - Return on Investment
Consider the following information for McKinley and Son, Inc.
12/31/2011
12/31/2012
Total assets
$50,000,000
$56,200,000
Noninterest-bearing current liabilities
1,000,000
1,200,000
Net income
3,000,000
3,115,000
Interest expense
660,000
700,000
Tax rate
35%
Required
Required -
a. Evaluate the company in terms of ROL
b. While income has increased in fiscal 2012, is it clear that the company's performance has improved?
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