Question: East Mullett Manufacturing earned operating income last year as shown in the following income statement:
At the beginning of the year, the value of operating assets was $345,000. At the end of the year, the value of operating assets was $405,000.
Calculating Average Operating Assets, Margin, Turnover, and Return on Investment . Refer to the information for East Mullett Manufacturing on the previous page.
Required: Calculate
(1) average operating assets,
(2) margin,
(3) turnover and
(4) return on investment.