Margin, Turnover, Return on Investment, Average Operating Assets

Elway Company provided the following income statement for the last year:

Sales$1,040,000,000Less: Variable expenses700,250,000Contribution margin$ 339,750,000Less: Fixed expenses183,750,000Operating income$ 156,000,000

At the beginning of last year, Elway had $28,300,000 in operating assets. At the end of the year, Elway had $23,700,000 in operating assets.

Required:

1.Compute average operating assets.

$

2.Compute the margin (as a percent) and turnover ratios for last year.

Margin%Turnover

3.Compute ROI as a percent.