(Profitability analysis) Last year Triangular Resources earned $4.5 million in net operating income and had an operating profit margin of 20.8 percent. If the firm's total asset turnover ratio was 1.51, what was the firm's investment in total assets? The company's total assets are million (Round to one decimal place)

(Profitability analysis) Last year Triangular Resources earned $4.5 million in net operating income and had an operating profit margin of 20.8 percent. If the firm's total asset turnover ratio was 1.51, what was the firm's investment in total assets? The company's total assets are million (Round to one decimal place)

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 5EB: During the current year. Plainfield Manufacturing earned income of $845,000 from total sales of...

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