20. Avocado Company has an operating income of $138,720 on revenues of $4,624,000. Average invested assets are $578,000 and Avocado Company has an 12% cost of capital. What is the investment turnover? 33.33 times 4.17 times 24.00 times 8.00 times

33.33 times

4.17 times

24.00 times

8.00 times

21. Grove Corp. has revenues of $1,519,000 resulting in an operating income of $113,000. Average invested assets total $843,000. Calculate the ROI if sales increase by 10% and the profit margin and investment level remain constant. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

13.34%

7.44%

7.37%

14.74%

22.

Avocado Company has an operating income of $102,000 on revenues of $1,010,000. Average invested assets are $509,000 and Avocado Company has an 8% cost of capital. What is the residual income?

$21,200

$102,000

$61,280

$123,200

23.

Pine Corp. has revenues of $500,000 resulting in an operating income of $64,000. Invested assets total $682,000. Residual income is $26,000. Calculate the new residual income if sales increase by 10% and the profit margin and invested assets remain the same. (Do not round your intermediate calculations.)

$38,000

$32,400

$0

$12,240