Answered: Knight Enterprises has a net income of…

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.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter10: Evaluating Decentralized Operations

Section: Chapter Questions

Problem 4BE: Profit margin, investment turnover, and ROI Briggs Company has operating income of 36,000, invested...

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Question

General accounting 2.1.25

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.

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