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Margin, Turnover, Return on Investment, Average Operating Assets Park Company provided the following income statement for last year: Sales $90,000 Less: Variable expenses 54,000 Contribution
Margin, Turnover, Return on Investment, Average Operating Assets
Park Company provided the following income statement for last year:
Sales | $90,000 |
Less: Variable expenses | 54,000 |
Contribution margin | $36,000 |
Less: Fixed expenses | 19,600 |
Operating income | $16,400 |
At the beginning of last year, Park had $38,650 in operating assets. At the end of the year, Park had $41,350 in operating assets.
Required:
Compute ROI. Do not round interim calculations, but do round your final answer to two decimal places. If required, use a minus sign to indicate a negative ROI
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