Question
The Millard Division's operating data for the past two years are provided below: Year 1 Year 2 Return on investment 15 % 20 % Net
The Millard Division's operating data for the past two years are provided below:
| Year 1 | Year 2 | ||||||||||
| Return on investment | 15 | % | 20 | % | |||||||
| Net operating income | ? | $ | 640,000 | ||||||||
| Turnover | ? | 5 | |||||||||
| Margin | ? | ? | |||||||||
| Sales | $ | 3,340,000 | ? | ||||||||
Millard Division's margin in Year 2 was 120% of the margin in Year 1.
The net operating income for Year 1 was: (Round intermediate percentage computations to the nearest whole percent.)
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Multiple Choice
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$256,000
-
$100,200
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$133,600
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$267,200
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Financial Accounting
Authors: C. William Thomas, Wendy M Tietz
13th Edition
013689903X, 9780136899037
