Calculating Average Operating Assets, Margin, Turnover, and Return on Investment

Barnard Manufacturing earned operating income last year as shown in the following income statement:

Sales$4,000,000Cost of goods sold2,100,000Gross margin$1,900,000Selling and administrative expense1,100,000Operating income$ 800,000Less: Income taxes (@ 40%)320,000Net income$480,000

At the beginning of the year, the value of operating assets was $2,700,000. At the end of the year, the value of operating assets was $2,300,000.

For Barnard Manufacturing, calculate:

1.Average operating assets$

2.Margin%

3.Turnover

4.Return on investment