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 | ? | $ | 700,000 | ||||||||
| Turnover | ? | 2 | |||||||||
| Margin | ? | ? | |||||||||
| Sales | $ | 3,370,000 | ? | ||||||||
Millard Division's margin in Year 2 was 100% of the margin in Year 1.
The sales for Year 2 were:
Multiple Choice
-
$5,250,000
-
$3,370,000
-
$7,000,000
-
$7,333,333
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Auditing A Practical Approach with Data Analytics
Authors: Raymond N. Johnson, Laura Davis Wiley, Robyn Moroney, Fiona Campbell, Jane Hamilton
1st edition
1119401747, 978-1119401742
