The Florida Division of Garner Furniture reported the following results for 2020: Invested capital $800,000 Profit margin
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Question:
The Florida Division of Garner Furniture reported the following results for 2020:
Invested capital $800,000
Profit margin 5%
Return on investment 8%
Given this information, how much was sales?
a) $64,000
b) $1,600,000
c) $500,000
d) $1,280,000
Related Book For
Financial Reporting Financial Statement Analysis and Valuation a strategic perspective
ISBN: 978-1337614689
9th edition
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
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