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Margin, Turnover, Return on Investment, Average Operating Assets Elway Company provided the following income statement for the last year: Sales $ 7 8 2 ,

Margin, Turnover, Return on Investment, Average Operating Assets
Elway Company provided the following income statement for the last year:
Sales
$782,870,000
Less: Variable expenses
Contribution margin
Less: Fixed expenses
Operating income
At the beginning of last year, Elway had $38,653,000 in operating assets. At the end of the year, Elway had $41,355,000 in operating assets.
Required:
Compute average operating assets.
Compute the margin (as a percent) and turnover ratios for last year. If required, round your answers to two decimal places.
Margin
%
Turnover
Compute ROI as a percent. Use the part 2 final answers in these calculations and round the final answer to two decimal places.
%
CONCEPTUAL CONNECTION Comment on why the ROI for Elway Company is relatively high (as compared to the lower ROI of a typical manufacturing company).
recognized as assets (e.g. human talent).
recognized as assets (e.g. goodwill).
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