Knight Enterprises has a net income of Knight Enterprises has a net income of$85,000, sales of $1,500,000, and aReturn on Investment (ROI) of 20%.Find the turnover and average totalassets.

Calculation of Average Total AssetsROI = Net Income / Average Total Assetsor, 20% = $85,000 /…

Answered: Knight Enterprises has a net income of…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 6EB: During the current year, Plainfield Manufacturing earned income of $845,000 from total sales of...

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Knight Enterprises has a net income of $85,000, sales of $1,500,000, and a Return on Investment (ROI) of 20%. Find the turnover and average total assets.