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Question - Pool Accessories, Inc., has two divisions-Furniture and Supplies. Segmented income statement information for the most recent fiscal year ended December 31 is shown as follows. Assume the Furniture division had average operating assets totaling $6,500,000 for the year, and the Supplies division had average operating assets of $1,750,000.
Pool Accessories, Inc. Segmented Income Statements For the Current Fiscal Year Ended December 31 (dollar amounts are in thousands)
Furniture Division
Supplies Division
Sales
$3,000,000
$1,000,000
Cost of Goods Sold
1,600,000
430,000
Gross Margin
$1,400,000
$570,000
Allocated Overhead
375,000
125,000
Selling and Administrative Expenses
250,000
200,000
Operating Income
$775,000
$245,000
Income Tax Expense (30% rate)
232,500
73,500
Net Income
$542,500
$171,500
Required -
a. Calculate ROI for each division.
b. What does ROI tell us about each division?
c. Indicate why this measure is useful in evaluating investment centers.
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