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Leete Inc. reported the following results from last year's operations: Sales 22,000,000 Variable expenses 18,500,000 Contribution margin 3,500,000 Fixed expenses 2,800,000 Net operating income 700,000
Leete Inc. reported the following results from last year's operations: Sales 22,000,000 Variable expenses 18,500,000 Contribution margin 3,500,000 Fixed expenses 2,800,000 Net operating income 700,000 Average operating assets were $9,000,000. It's minimum required return was 6%. 1. What is the company's margin percentage? 2. What is the company's turnover? 3. What is the company's return on investment? 4. What is the company's residual income? Enter your answers in the same order as above
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