Stan's Balloon Rides had net sales of $280,611 and the cost of goods sold were $110,900. Operating expenses were $45,315 and owner's equity is $423,600. Calculate the return on investment. (Round to the nearest tenth)

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The return on investment (ROI) is calculated by dividing the net income by the owner's equity and then multiplying by 100 to get a percentage. First, calculate the net income: Net Sales - Cost of Goods Sold - Operating Expenses = $280,611 - $110,900 - $45,315 = $124,396. Then, calculate ROI: ($124,396 / $423,600) * 100 = 29.4%.

Stan's Balloon Rides Had Net Sales of $280,611 and the Cost