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 operating income
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 | ? | $ 580,000 |
| Turnover | ? | 5 |
| Margin | ? | ? |
| Sales | $ 3,310,000 | ? |
Millard Division's margin in Year 2 was 130% of the margin in Year 1.
The net operating income for Year 1 was:
Multiple Choice
$232,000
$99,300
$132,400
$264,800
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Auditing And Assurance Services
Authors: Timothy J Louwers, Robert J. Ramsay, David Sinason, Jerry R Strawser
1st Edition
0072954442, 9780072954449
