Question: please answer the two blanks Calculating Average Operating Assets, Margin, Turnover, and Return on Investment East Mullett Manufacturing earned operating income last year as shown

please answer the two blanks
please answer the two blanks Calculating Average Operating Assets, Margin, Turnover, and

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 $531,250 Cost of goods sold 280,000 Gross margin $251,250 Selling and administrative expense 186,700 Operating Income $64,550 Less: Income taxes (@40%) 25,820 Net income $38,730 At the beginning of the year, the value of operating assets was $390,000. At the end of the year, the value of operating assets was $460,000 Required: For East Mullett Manufacturing, calculate the following: 1. Average operating assets 425,000 2 Margin (round to two decimal places) 3. Turnover (round to two decimal places) 1.25 4. Return on Investment (round to one decimal place)

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