The North Division of the Lyman Company reported the following data for last year: Net operating income
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Question:
The North Division of the Lyman Company reported the following data for last year:
Net operating income …………………...…………….. $ 200,000
Interest expense ……………………………....……......... $ 50.000
Tax expense ………………………………………..........….. $ 60,000
Stockholders' equity ……………………………….....….$ 250,000
Average operating assets …………………………..….$ 500.000
Minimum required rate of return ……………………….. .. 14%
The return on investment last year for the North Division was:
a. 18%
b. 40%
c. 36%
d. 80%
Related Book For
Financial and Managerial Accounting
ISBN: 978-1285078571
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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