Margin, Turnover, Return on Investment, Average Operating Assets Elway Company provided the following income statement for the last year: Sales Less: Variable expenses Contribution margin Less: Fixed expenses Operating income $880,520,000 551,474,000 $329,046,000 194,646,000 $134,400,000 At the beginning of last year, Elway had $38,678,000 in operating assets. At the end of the year, Elway had $41,322,000 in operating assets. Required: 1. Compute average operating assets. 2. Compute the margin (as a percent) and turnover ratios for last year. If required, round your answers to two decimal places. Margin Turnover % 3. Compute ROI as a percent. Use the part 2 final answers in these calculations and round the final answer to two decimal places. 4. ROI measures a company's ability to generate L the comasnu inconeration from the scents Check My Work 5 mom Check My Work uses remainin relative to its investment in assets. The greater the ROI, the efficiently Previous Next Required: 1. Compute average operating assets. 2. Compute the margin (as a percent) and turnover ratios for last year. If required, round your answers to two decimal places. Margin Turnover % 3. Compute ROI as a percent. Use the part 2 final answers in these calculations and round the final answer to two decimal places. 4. ROI measures a company's ability to generate the company is generating from its assets. relative to its investment in assets. The greater the ROI, the efficiently 5. CONCEPTUAL CONNECTION Comment on why the ROI for Elway Company is relatively high (as compared to the lower ROI of a typical manufacturing company). 1. Elway Company might be a service organization with relatively few physical assets required to generate its sales revenue and income. ROI will be higher when the factors that create a company's sales or income are not formally recognized as assets (e.g. human talent). 2. Elway Company might be a service organization with relatively few physical assets required and generates an income much higher than any manufacturing organization. ROI will be higher when the factors that create a company's sales or income are not formally recognized as assets (e.g. human talent). 3. Elway Company might be a service organization with relatively few physical assets required and generates an income much higher than any manufacturing organization. ROI will be higher when the factors that create a company's sales or income are not formally recognized as assets (e.g. goodwill).