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Margin, Turnover, Return on Investment, Average Operating Assets Elway Company provided the following income statement for the last year: Sales $800,190,000 Less: Variable expenses 558,521,000

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Margin, Turnover, Return on Investment, Average Operating Assets Elway Company provided the following income statement for the last year: Sales $800,190,000 Less: Variable expenses 558,521,000 Contribution margin $241,669,000 198,350,000 Less: Fixed expenses $43,319,000 Operating income At the beginning of last year, Elway had $38,635,000 in operating assets. At the end of the year, Elway had $41,356,000 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

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