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Seere Company provided the following income statement for last year.
Margin; Turnover;
Sales
$240,000
ROI; Average
Less: Variable expenses
195,000
Operating Assets
Contribution margin
$45,000
LO3
Less: Fixed expenses
37,800
Operating income
$7,200
At the beginning of last year, Seere had $78,650 in operating assets. At the end of the year, Seere had $81,350 in operating assets.
Required:
1. Compute average operating assets.
2. Compute the margin and turnover ratios for last year. Compute ROI.
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