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

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 ? $ 700,000 Turnover ? 5 Margin ? ? Sales $ 3,370,000 ? Millard Division's margin in Year 2 was 140% of the margin in Year 1. The net operating income for Year 1 was:

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