eBook Margin, Turnover, Return on Investment, Average Operating Assets Elway Company provided the following income statement for the last year: Sales $775,940,000 Less: Variable expenses 548,048,000 Contribution margin $227,892,000 Less: Fixed expenses 193, 146,000 Operating income $34,746,000 At the beginning of last year, Elway had $38,642,000 in operating assets. At the end of the year, Elway had $4),351,000 in operating assets. Required: 1. Compute average operating assets 39,996,500 2. Compute the margin (as a percent) and turnover ratios for last year. If required, round your answers to two decimal places. Margin 4.4 X 6 Turnover 19.40 3. Compute ROI as a percent. Use the part 2 final answers in these calculations and round the final answer to two decimal places. 77.6 X 4. Rol measures a company's ability to generate income relative to its investment in assets. The greater the ROI, the more efficiently the companys generating from its assets. 5. CONCEPTUAL CONNECTION Comment on why the Rot for Elway Company is relatively high (as compared to the lower Rot of a typical manufacturing company) Check My Work 1 more Check My Work uses remaining Previous Next > All work saved Save and Exit Submit Assignment for Grading