Answered: $400,000, a turnover of 2.4, and a…

$400,000, a turnover of 2.4, and a return on investment of 36%. The company's net operating income for the year was: A. B. C. D. $144,000 $120,000 $80,000 $60,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Last year a company had sales of
$400,000, a turnover of 2.4, and a
return on investment of 36%. The
company's net operating income for the
year was:
A.
B.
C.
D.
E.
F.
$144,000
$120,000
$80,000
$60,000
$72,000
None of the above

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