Question
Scribe Company, a manufacturer of writing instruments, provides the following financial information: Pen Division Pencil Division Operating income $90,000 $40,000 Net sales $450,000 $ $200,000
Scribe Company, a manufacturer of writing instruments, provides the following financial information:
| Pen Division | Pencil Division | |
| Operating income | $90,000 | $40,000 |
| Net sales | $450,000 | $ $200,000 |
| Total assets at Jan. 1 | $580,000 | $255,000 |
| Total assets at Dec .31 | $700,000 | $235,000 |
Calculate the return on investment for the Pencil Division. (Round your answer to two decimal places.)
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Auditing Philosophy And Technique
Authors: John William Cook
1st Edition
039520660X, 978-0395206607
