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 $531,250 Cost of goods sold 280,000 Gross margin $251,250 Selling and administrative expense 193,600 Operating Income $57,650 Less: Income taxes (40%) 23,060 $34,590 Net income At the beginning of the year, the value of operating assets was $390,000. At the end of the year, the value of operating assets was Required: For East Mullett Manufacturing, calculate the following: 1. Average operating assets 2. Margin (round to two decimal places) 3. Turnover (round to two decimal places) 4. Return on investment (round to one decimal place) 0000 % %