Question
One of Woodsons divisions, Division A, is organized as an investment center. Invested assets and condensed income statement data for the year ended December 31,
One of Woodsons divisions, Division A, is organized as an investment center. Invested assets and condensed income statement data for the year ended December 31, 2021 is as follows:
Revenues$250,000Operating expenses100,000Service department charges30,000Cost of Goods Sold40,000Invested assets400,000
(a)Prepare a condensed income statement for the year ended December 31, 2021.
(b)Using the expanded DuPont expression, determine the profit margin, investment turnover, and rate of return on investment.. Round each calculated figure to three decimal places.
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