Question
The Millard Division's operating data for the past two years are provided below: Year 1 Year 2 Return on investment 10% 24% Net operating income
The Millard Division's operating data for the past two years are provided below:
| Year 1 | Year 2 | |
|---|---|---|
| Return on investment | 10% | 24% |
| Net operating income | ? | $ 560,000 |
| Turnover | ? | 4 |
| Margin | ? | ? |
| Sales | $ 3,300,000 | ? |
Millard Division's margin in Year 2 was 120% of the margin in Year 1.
The sales for Year 2 were:
Multiple Choice
-
$3,300,000
-
$9,333,333
-
$9,666,666
-
$2,333,333
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Using Financial Accounting Information The Alternative to Debits and Credits
Authors: Gary A. Porter, Curtis L. Norton
7th Edition
978-0-538-4527, 0-538-45274-9, 978-1133161646
