This problem continues the Piedmont Computer Company situation from Chapter 23. Piedmont Computer Company reported 2020 sales

Question:

This problem continues the Piedmont Computer Company situation from Chapter 23. Piedmont Computer Company reported 2020 sales of $3,600,000 and operating income of $183,600. Average total assets during 2020 were $600,000. Piedmont Computer Company's target rate of return is 16%.
Calculate Piedmont Computer Company's profit margin ratio, ratio, ROI, and RI for 2020. Comment on the results?
Asset Turnover
Asset turnover is sales divided by total assets. Important for comparison over time and to other companies of the same industry. This is a standard business ratio.