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The Millard Division's operating data for the past two years are provided below: Year 1 Year 2 Return on investment 12% 36% Net operating

The Millard Divisions operating data for the past two years are provided below: Year 1 Year 2 12% 36% Return on investment N 

The Millard Division's operating data for the past two years are provided below: Year 1 Year 2 Return on investment 12% 36% Net operating income $600,000 Turnover ? 3 Margin ? Sales $3,320,000 ? 04 Millard Division's margin in Year 2 was 150% of the margin in Year 1. The net operating income for Year 1 was:

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