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Calculating average operating assets, margin, turnover, and return on investmenteast mullett manufacturing earned operating income last year as shown in the following income statement: sales $531,250cost of goods sold 280,000gross margin $251,250selling and administrative expense 194,000operating income $57,250less: income taxes (@ 40%) 22,900 net income $34,350at the beginning of the year, the value of operating assets was $390,000. at the end of the year, the value of operating assets was $460,000.required: for east mullett manufacturing, calculate the following: 1. average operating assets $ 2. margin (round to two decimal places) %3. turnover (round to two decimal places) 4. return on investment (round to one decimal place) %
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Calculating average operating assets, margin, turnover, and return on investmenteast mullett manufac...
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