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Problem 24 The following 2008 information is available for Westfall Industries: average assets invest $ 14, 400,000; revenues, $ 52, 800,000; and expenses, $49, 200,000.
Problem 24 The following 2008 information is available for Westfall Industries: average assets invest $ 14, 400,000; revenues, $ 52, 800,000; and expenses, $49, 200,000. a. Calculate return on investment. b. Calculate profit margin. c. Calculate asset turnover. d. Using parts (b) and (c), prove your answer to part (a). Assuming Westfall's cost of capital is 12%, compute the 2008 residual income
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