Calculating Average Operating Assets, Margin, Turnover, and Return on Investment East Mullett Manufacturing earned operating income last year as shown in the following income statement: Sales Cost of goods sold $3,750,000 2,250,000 $1,500,000 1,200,000 $300,000 120,000 $180,000 Gross margin Selling and administrative expense Operating income Less: Income taxe s (@ 40%) Net income At the beginning of the year, the value of operating assets was $1,600,000. At the end of the year, the value of operating assets was $1,400,000. Round your answers to two decimal places, when rounding is required Required For East Mullett Manufacturing, calculate: 1. Average operating assets 2. Margin 3. Turnover 4. Return on investment