The following information is provided about a company for the year 2017: Sales $250,000 Variable expenses $220,000 Contribution margin $30,000 $10,000 Fixed expenses Asset turnover Required rate of return Assets at 12/31/2017 What was the company's return on investment during 2017? O 12% 16.67% 25% 30% 2.5 12% $120,000 None of the above

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The following information is provided about a company for the year 2017:
Sales
Variable expenses
Contribution margin
Fixed expenses
Asset turnover
Required rate of return
Assets at 12/31/2017
12%
What was the company's return on investment during 2017?
O 16.67%
O 25%
30%
$250,000
$220,000
$30,000
$10,000
None of the above
2.5
12%
$120,000
Transcribed Image Text:The following information is provided about a company for the year 2017: Sales Variable expenses Contribution margin Fixed expenses Asset turnover Required rate of return Assets at 12/31/2017 12% What was the company's return on investment during 2017? O 16.67% O 25% 30% $250,000 $220,000 $30,000 $10,000 None of the above 2.5 12% $120,000
What was the company's residual income during 2017?
$5,600
$8,000
$15,600
$18,000
None of the above
Transcribed Image Text:What was the company's residual income during 2017? $5,600 $8,000 $15,600 $18,000 None of the above
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