Crawford Corp. has an ROI of 23% and a residual income of $10,400. If operating income equals $48,070, what is the amount of average invested assets? Multiple Choice $45,217 $1,105,610 $209,000 $239,200

Crawford Corp. has an ROI of 23% and a residual income of $10,400. If operating income equals $48,070, what is the amount of average invested assets? Multiple Choice $45,217 $1,105,610 $209,000 $239,200

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter10: Evaluating Decentralized Operations

Section: Chapter Questions

Problem 4BE: Profit margin, investment turnover, and ROI Briggs Company has operating income of 36,000, invested...

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Question

Crawford Corp. has an ROI of 23% and a residual income of $10,400. If operating income equals $48,070, what is the amount of average invested assets?

Multiple Choice

$45,217
$1,105,610
$209,000
$239,200

Formula Formula ROI (%) = Net Income Principal Amount × 100

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