Pollux Company had the following income statement for last year Sales-$360,000 Less: Cost of goods sold-$195,000 Gross margin-$165,000 Less: Selling & administration expense-$78,600 Operating income- $86,400 Beginning assets were $565,000 and ending assets were $597, 000. Carry computations out to three decimals places A. What are average operating assets?

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Pollux Company had the following income statement for last year

Sales-$360,000

Less: Cost of goods sold-$195,000

Gross margin-$165,000

Less: Selling & administration expense-$78,600

Operating income- $86,400

Beginning assets were $565,000 and ending assets were $597, 000.

Carry computations out to three decimals places

A. What are average operating assets?

B. what is margin?

C. what is turnover?

D. What is ROI

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