Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Flounder Design Works generated $519,750 in operating income on sales revenue of $2,887,500. The company had $2,610,000 in assets on January 1 and $2,890,000 in
Flounder Design Works generated $519,750 in operating income on sales revenue of $2,887,500. The company had $2,610,000 in assets on January 1 and $2,890,000 in assets on December 31.
(a) Calculate Flounders margin. (Round answer to 0 decimal places, e.g. 65%.)
Flounders margin | enter Flounders margin in percentages rounded to 0 decimal places % |
(b) Calculate Flounders asset turnover. (Round answer to 2 decimal places, e.g. 0.65.)
Flounders asset turnover | enter Flounders asset turnover in times rounded to 2 decimal places times |
Calculate Flounders return on investment. (Round answer to 2 decimal places, e.g. 5.12%.)
Flounders return on investment | enter Flounders return on investment in percentages rounded to 2 decimal places % |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started