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Calculating Average Operating Assets, Margin, Turnover, and Return on Investment East Mullett Manufacturing earned operating income last year as shown in the following income
Calculating Average Operating Assets, Margin, Turnover, and Return on Investment \
East Mullett Manufacturing earned operating income last year as shown in the following income statement:
Sales | $3,300,000 | |
Cost of goods sold | 2,000,000 | |
Gross margin | $1,300,000 | |
Selling and administrative expense | 1,100,000 | |
Operating income | $200,000 | |
Less: Income taxes (@ 40%) | 80,000 | |
Net income | $120,000 |
At the beginning of the year, the value of operating assets was $1,600,000. At the end of the year, the value of operating assets was $1,200,000
This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.
Margin. Round your answer to two decimal places. |
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