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MARGIN, TURNOVER, RETURN ON INVESTMENT, AVERAGE OPERATING ASSETS
Elway Company provided the following income statement for last year:
Sales
$285,000
Less: Variable expenses
171,000
Contribution margin
$114,000
Less: Fixed expenses
91,200
Operating income
$ 22,800
At the beginning of last year, Elway had $180,000 in operating assets. At the end of the year, Elway had $200,000 in operating assets.
Required:
1. Compute average operating assets.
2. Compute the margin and turnover ratios for last year.
3. Compute ROI.
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