Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

plz, help ASAP. I will give you a thumbs up. An investment center of Lannigan Company reported operating income of $395,000 on total operating assets

plz, help ASAP. I will give you a thumbs up.
image text in transcribed

An investment center of Lannigan Company reported operating income of $395,000 on total operating assets of $2,730,000 during the current year. The company has established a target ROI of 19.50% for the investment center. Last year, the investment center's ROI was 13.50%. Required: a. Calculate the return on investment for the investment center for the current year. Note: Round your answer to 1 decimal place. b. Compare its performance with both the performance from the previous year and the target ROI a Return on investment b. The division its own performance from the previous year and of the target ROI established by company management.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: kieso, weygandt and warfield.

IFRS Edition

978-1118443965, 1118800532, 9781118800539, 978-0470873991

More Books

Students also viewed these Accounting questions

Question

What are the hidden negative consequences of benevolent sexism?

Answered: 1 week ago

Question

What is the difference between hostile and benevolent sexism?

Answered: 1 week ago