Provide correct answer for this accounting question Last year a company had sales of $460,000, aturnover of 2.5, and a return on investment of62.5%.The company's net operating income for the yearwas:$184,000$287,500$172,500$115,000

Step 1:- Define Operating incomeThe operating income is amount earned by the organizations from its…

Answered: Last year a company had sales 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 5EA: During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of...

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Similar questions

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Calculating Average Operating Assets, Margin, Turnover, and Return on Investment East Mullett Manufacturing earned operating income last year as shown in the following income statement: Sales $3,750,000 Cost of goods sold 2,250,000 Gross margin $1,500,000 Selling and administrative expense 1,200,000 Operating income $ 300,000 Less: Income taxes (@ 40%) 120,000 Net income $ 180,000 At the beginning of the year, the value of operating assets was $1,600,000. At the end of the year, the value of operating assets was $1,400,000. Round your answers to two decimal places, when rounding is required. Required: For East Mullett Manufacturing, calculate: 1. Average operating assets $fill in the blank 1 2. Margin fill in the blank 2 % 3. Turnover fill in the blank 3 4. Return on investment fill in the blank 4 %
Calculating Average Operating Assets, Margin, Turnover, and Return on Investment East Mullett Manufacturing earned operating income last year as shown in the following income statement: Sales $3,750,000 Cost of goods sold 2,250,000 Gross margin $1,500,000 Selling and administrative expense 1,200,000 Operating income $ 300,000 Less: Income taxes (@ 40%) 120,000 Net income $ 180,000 At the beginning of the year, the value of operating assets was $1,600,000. At the end of the year, the value of operating assets was $1,400,000. Round your answers to two decimal places, when rounding is required. What is the average operating assets

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Last year a company had sales of $460,000, a turnover of 2.5, and a return on investment of 62.5%. The company's net operating income for the year was: $184,000 $287,500 $172,500 $115,000