Problem 15-22 Return on investment LO 15-6 Fanning Corporation's balance sheet indicates that the company has $550,000 invested in operating assets. During 2 earned operating income of $60,500 on $1,100,000 of sales 018, Fanning Required a. Compute Fanning's profit margin for 2018 b. Compute Fanning's turnover for 2018 c. Compute Fanning's return on investment for 2018. d. Recompute Fanning's ROl under each of the following independent assumptions: (1) Sales increase from $1,100,000 to $1,320,000, thereby resulting in an increase in operating income from $60,500 to $67,320. (2) Sales remain constant, but Fanning reduces expenses, resulting in an increase in operating income from $60 (3) Fanning is able to reduce its invested capital from $550,000 to $440,000 without affecting operating income. ,500 to $62,700 Complete this question by entering your answers in the tabs below. Req A to CReq D Compute Fanning's proft margin, turnover and return on investment for 2018. (Round Profit margin" and "Return on investment" to 1 decimal place.) a. Profit margin b. Turnover C. Return on nvestment times Prev 1 of 2 Next