=+PR 24-3A Divisional income statements and rate of return on investment analysis obj. 4

✔ 2. Bread Division, ROI, 13.5%

A condensed income statement for the Snowboard Division of New Wave Rides Inc. for the year ended December 31, 2010, is as follows:

Sales $1,200,000 Cost of goods sold 826,000 __________ Gross profit $ 374,000 Operating expenses 230,000 __________ Income from operations $ 144,000 __________ __________ Invested assets $1,000,000