Question: i cant figure out number 3 please help Margin, Turnover, Return on Investment, Average Operating Assets Elway Company provided the following income statement for the
Margin, Turnover, Return on Investment, Average Operating Assets Elway Company provided the following income statement for the last year: Sales $785,900,000 Less: Variable expenses 554,864,000 Contribution margin $231,036,000 Less: Fixed expenses 193,703,000 Operating income $37,333,000 At the beginning of last year, Elway had $38,633,000 in operating assets. At the end of the year, Elway had $41,378,000 in operating assets Required: 1. Compute average operating assets. $ 40,005,500 2. Compute the margin (as a percent) and turnover ratios for last year. If required, round your answers to two decimal places. Margin 4.75 % Turnover 19.64 3. Compute ROI as a percent. Use the part 2 final answers in these calculations and round the final answer to two decimal places 96
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