Mason Corporation had $1,182,000 in invested assets, sales of $1,298,000, operating income amounting to $217,000, and a desired minimum return on investment of 14%. The investment turnover for Mason Corporation is a.1.32 b.1.10 c.0.88 d.1.65

Mason Corporation had $1,182,000 in invested assets, sales of $1,298,000, operating income amounting to $217,000, and a desired minimum return on investment of 14%. The investment turnover for Mason Corporation is a.1.32 b.1.10 c.0.88 d.1.65

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Mason Corporation had $1,182,000 in invested assets, sales of $1,298,000, operating income amounting to $217,000, and a desired minimum return on investment of 14%.

The investment turnover for Mason Corporation is

a.1.32

b.1.10

c.0.88

d.1.65

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

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