The Fairway Restaurant chain had a 12% return on a $69,000 investment in new ovens. The investment resulted in increased sales and an increase in income that was 6% of the increase in sales. The increase in sales was:Multiple Choice$575,000.$8,280$69,000.$138,000.

Calculate the return on investment.

Answered: The Fairway Restaurant chain had a 12%…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Problem 1Q

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The Fairway Restaurant chain had a 12% return on a $69,000 investment in new ovens. The investment resulted in increased sales and an increase in income that was 6% of the increase in sales. The increase in sales was: Multiple Choice $575,000. $8,280 $69,000. $138,000.