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Madison Company provides the following information: | Profit margin ratio | 4% || Asset turnover ratio | 3 times || Net sales | $600,000 || Total assets | $200,000 | Calculate the return on investment. A) 7% B) 12% C) 15% D) 20%

Madison Company provides the following information: | Profit margin ratio | 4% || Asset turnover ratio | 3 times || Net sales | $600,000 || Total assets | $200,000 | Calculate the return on investment. A) 7% B) 12% C) 15% D) 20%

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter9: Responsibility Accounting And Decentralization
Section: Chapter Questions
Problem 3PB: The income statement comparison for Rush Delivery Company shows the income statement for the current...
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Madison Company provides the following information: | Profit margin ratio | 4% || Asset turnover ratio | 3 times || Net sales | $600,000 || Total assets | $200,000 | Calculate the return on investment. A) 7% B) 12% C) 15% D) 20%
Transcribed Image Text:Madison Company provides the following information: | Profit margin ratio | 4% || Asset turnover ratio | 3 times || Net sales | $600,000 || Total assets | $200,000 | Calculate the return on investment. A) 7% B) 12% C) 15% D) 20%
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