TB Problem Qu. 11-224 (Algo) Gabbe Industries is a division of a major... Gabbe Industries is a division of a major corporation. Last year the division had total sales of $23,800,000, net operating income of $2,903,600, and average operating assets of $7,000,000. The company's minimum required rate of return is 16%. Required: a. What is the division's margin? Note: Round your percentage answer to 2 decimal places. b. What is the division's turnover? Note: Round your answer to 2 decimal places. c. What is the division's return on investment (ROI)? Note: Round percentage your answer to 2 decimal places. a. Margin b. c. Return on investment, Turnover %

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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TB Problem Qu. 11-224 (Algo) Gabbe Industries is a division of a major...
Gabbe Industries is a division of a major corporation. Last year the division had total sales of $23,800,000, net operating income of
$2,903,600, and average operating assets of $7,000,000. The company's minimum required rate of return is 16%.
Required:
a. What is the division's margin?
Note: Round your percentage answer to 2 decimal places.
b. What is the division's turnover?
Note: Round your answer to 2 decimal places.
c. What is the division's return on investment (ROI)?
Note: Round percentage your answer to 2 decimal places.
a. Margin
b.
c. Return on investment,
Turnover
%
Transcribed Image Text:TB Problem Qu. 11-224 (Algo) Gabbe Industries is a division of a major... Gabbe Industries is a division of a major corporation. Last year the division had total sales of $23,800,000, net operating income of $2,903,600, and average operating assets of $7,000,000. The company's minimum required rate of return is 16%. Required: a. What is the division's margin? Note: Round your percentage answer to 2 decimal places. b. What is the division's turnover? Note: Round your answer to 2 decimal places. c. What is the division's return on investment (ROI)? Note: Round percentage your answer to 2 decimal places. a. Margin b. c. Return on investment, Turnover %
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