Lumber division of Hogan Inc. reported an investment turnover of 1.28 and a return on investment of 21.76%. Compute the profit margin for Hogan. (round the percentage to two decimal points. E.g., 10.52%). Group of answer choices 580.00% 170.00% 5.88% 17.00%

Lumber division of Hogan Inc. reported an investment turnover of 1.28 and a return on investment of 21.76%. Compute the profit margin for Hogan. (round the percentage to two decimal points. E.g., 10.52%). Group of answer choices 580.00% 170.00% 5.88% 17.00%

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

Lumber division of Hogan Inc. reported an investment turnover of 1.28 and a return on investment of 21.76%.

Compute the profit margin for Hogan. (round the percentage to two decimal points. E.g., 10.52%).

Group of answer choices

580.00%

170.00%

5.88%

17.00%

Formula Formula ROI (%) = Net Income Principal Amount × 100

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