Question: The Millard Division's operating data for the past two years are provided below: Year 1 Year 2 Return on investment 15% 20% Net operating income

The Millard Division's operating data for the past two years are provided below:

Year 1 Year 2
Return on investment 15% 20%
Net operating income ? $ 580,000
Turnover ? 5
Margin ? ?
Sales $ 3,310,000 ?

Millard Division's margin in Year 2 was 130% of the margin in Year 1.

The net operating income for Year 1 was:

Multiple Choice

$232,000

$99,300

$132,400

$264,800

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