ebook Dance Margin, Turnover, Return on Investment, Average Operating Assets Elway Company provided the following income statement for the last year: Sales Less: Variable expenses $775,940,000 548,048,000 $227,892,000 Contribution margin Less: Fixed expenses 193,146,000 Operating income $34,746,000 At the beginning of last year, Elway had $35,642,000 in operating assets. At the end of the year, Elway had 41,351,000 in operating assets Required: 1. Compute average operating assets. 2. Compute the margin as a percent) and turnover ratios for fast year. If required, round your answers to two decimal places Margin % Turnover 3. Compute Rol as a percent. Use the part 2 final answers in these calculations and round the final answer to two decimal places 96 4. ROI measures a company's ability to generate relative to its investment in assets. The greater the Rot, the eficienty the company is generating from its assets. 5. CONCEPTUAL CONNECTION Comment on why the ROI for Elway Company is relatively high (as compared to the lower Rot of a typical manufacturing company