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

i cant figure out number 3 please help
i cant figure out number 3 please help Margin, Turnover, Return on

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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