FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Provisions Company, a manufacturer of office supplies, provides the following financial information:
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Pen Division
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Pencil Division
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Operating income
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$100,000
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$40,000
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Net sales
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$500,000
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$150,000
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Total assets at Jan. 1
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$580,000
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$350,000
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Total assets at Dec. 31
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$610,000
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$300,000
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Calculate the return on investment for the Pen Division. (Round your answer to two decimal places.)
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