Please help answer, Thanks in advance Palm Inc. has a profit margin of...
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Please help answer, Thanks in advance
Palm Inc. has a profit margin of 21% and an investment turnover of 4. Sales revenue is $1,600,000. What is the amount of average invested assets?
a) $224,000
b) $400,000
c) $240,000
d) $112,000
Grove Corp. has revenues of $1,538,000 resulting in an operating income of $183,000. Average invested assets total $811,000. If sales increase by 10% and the investment level remains constant, what is the investment turnover?
a) 2.09
b) 11.90%
c) 1.90
d) 12.60%
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