Bajaj Ltd. reported the following statistics and results for 20X9: Net operating income............................................$54,000 Return on sales.............................................................9.5% Asset
Question:
Bajaj Ltd. reported the following statistics and results for 20X9:
Net operating income............................................$54,000
Return on sales.............................................................9.5%
Asset turnover.................................................................2.4
Residual income......................................................$10,000
Required:
What was the value of Bajaj’s average operating assets in 20X9?
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