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29 The Golfland Division's operating data for the past two years is as follows: Year 1 Year 2 Return on investment.. 18% 24% Stockholders equity.

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The Golfland Division's operating data for the past two years is as follows: Year 1 Year 2 Return on investment.. 18% 24% Stockholders equity. P3,000,000 P2,000,000 Net operating income.. P240,000 Turnover. Sales.. 4,500,000 The profit margin in Year 2 is 150 % than that of Year 1.

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