Seere company provided the following income statement for, Ask an Expert

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Seere Company provided the following income statement for last year.

Margin; Turnover;	Sales	$240,000
ROI; Average	Less: Variable expenses	195,000
Operating Assets	Contribution margin	$45,000
LO3	Less: Fixed expenses	37,800
	Operating income	$7,200

At the beginning of last year, Seere had $78,650 in operating assets. At the end of the year, Seere had $81,350 in operating assets.

Required:

1. Compute average operating assets.

2. Compute the margin and turnover ratios for last year. Compute ROI.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91697384

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