Jim’s Welding Shop started recorded $400,000 in revenues, $2…

Jim’s Welding Shop started recorded $400,000 in revenues, $200,000 in operating expenses, $20,000 in depreciation, and $10,000 in interest.. He withdrew $30,000 from his cash account to pay his daughter’s tuition. He purchased a bean roller for $40,000 and took out a loan on it for $30,0000 (that is, $30,000 in cash came from the bank), and the family withdrew $50,000 for family living expenses. He lives in the magical no-tax country of CherylLand. How much did he add or substract from cash during the year? Hint: You calculate net income, subtract net cash expenses not included in the calculation of net income, and add back depreciation as it is a non-cash expense.  Not included in the calculation of net income: tuition, purchase and financing of bean roller, and family living.

You purchased a utility tractor for $23,000 in January 2023….

You purchased a utility tractor for $23,000 in January 2023. You used the utility tractor in your landscaping business during 2023, and estimate that you earned $4,000 using this asset. You sold it for $21,000 in January 2024. What was the rate of return to this investment? Indicate as a percentage to the nearest tenth place (e.g., 10.2).