Calculating Average Operating Assets, Margin, Turnover, and Return on investment East Mullett Manufacturing earned operating income last year as shown in the following income statementi Sales $531,250 Cost of goods sold 280,000 Gross margin $251,250 Selling and administrative expense 192,900 Operating income $58,350 Less: Income taxes (40%) 23,340 Net Income $35,010 At 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 Ine 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)