Margin, Turnover, Return on Investment, Average Operating Assets

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

Sales $788,670,000 Less: Variable expenses 550,343,000 Contribution margin $238,327,000 Less: Fixed expenses 197,480,000 Operating income $40,847,000 At the beginning of last year, Elway had $38,613,000 in operating assets. At the end of the year, Elway had $41,385,000 in operating assets.

Required:

1. Compute average operating assets. $fill in the blank 1 2. Compute the margin (as a percent) and turnover ratios for last year. If required, round your answers to two decimal places.

Margin fill in the blank 2 % Turnover fill in the blank 3 3. Compute ROI as a percent. Use the part 2 final answers in these calculations and round the final answer to two decimal places. fill in the blank 4 %

4. ROI measures a companys ability to generate relative to its investment in assets. The greater the ROI, the efficiently the company is generating from its assets.