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Margin, Turnover, Return on Investment, Average Operating Assets Elway Company provided the following income statement for the last year: Sales $738,090,000 Less: Variable expenses 559,495,000
Margin, Turnover, Return on Investment, Average Operating Assets Elway Company provided the following income statement for the last year: Sales $738,090,000 Less: Variable expenses 559,495,000 Contribution margin $178,595,000 Less: Fixed expenses 197,339,000 Operating income 5-18,744,000 At the beginning of last year, Elway had $38,679,000 in operating assets. At the end of the year, thway had 541,385,000 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 cakulations and round the final answer to two decimal places
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