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.