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13) Carver Company's balance sheet and income statement are provided below: Carver Company Balance Sheet December 31 Assets Cash $ 40,000 Accounts receivable 52,000 Inventory

13) Carver Company's balance sheet and income statement are provided below:

Carver Company

Balance Sheet

December 31

Assets

Cash

$

40,000

Accounts receivable

52,000

Inventory

80,000

Plant and equipment, net of depreciation

280,000

Land held for future plant expansion

76,000

Total assets

$

528,000

Liabilities and Stockholders' Equity

Accounts payable

$

45,000

Notes payable

58,000

Capital stock, no par

240,000

Retained earnings

185,000

Total liabilities and stockholders' equity

$

528,000

Carver Company

Income Statement

For the Year Ended December 31

Sales

$

330,000

Less variable costs:

Manufacturing

68,000

Selling and administrative

48,000

Contribution margin

$

214,000

Less fixed costs:

Manufacturing

68,000

Selling and administrative

56,000

Net income

$

90,000

Required:

1) Compute the margin, turnover, and return on investment for Carver Company.

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