Question: Novak Design Works generated $ 3 8 7 , 2 0 0 in operating income on sales revenue of $ 2 , 4 2 0

Novak Design Works generated $387,200 in operating income on sales revenue

Novak Design Works generated $387,200 in operating income on sales revenue of $2,420,000. The company had
$1,500,000 in assets on January 1 and $2,900,000 in assets on December 31.
(a-b)
(c)
Calculate Novak's return on investment. (Round answer to 2 decimal places, e.g.5.12%.)
of $2,420,000. The company had $1,500,000 in assets on January 1 and

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