Please solve this general accounting question Last year, Apex Innovations Ltd. had sales of $520,000, an asset turnover of3.0, and a return on investment (ROI) of 75%.What was the company's net operating income for the year?a) $260,000b) $390,000c) $200,000d) $130,000

Step 1: Define Return on Investment (ROI)Return on Investment (ROI) is a financial metric used to…

Answered: Last year, Apex Innovations Ltd. had…

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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Last year, Apex Innovations Ltd. had sales of $520,000, an asset turnover of 3.0, and a return on investment (ROI) of 75%. What was the company's net operating income for the year? a) $260,000 b) $390,000 c) $200,000 d) $130,000