Sheridan Corporation had sales of $3007000 and operating income of $511137. Sheridan also had $914000 of assets on January 1 and $807000 on December 31. What is the corporation's ROI for the year? O 59.4% O 26.8% O 34.9% O 58.8%

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 1RE: Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of...
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Sheridan Corporation had sales of $3007000 and operating income of $511137. Sheridan also had $914000 of assets on January 1
and $807000 on December 31. What is the corporation's ROI for the year?
O 59.4%
O 26.8%
O 34.9%
O 58.8%
Transcribed Image Text:Sheridan Corporation had sales of $3007000 and operating income of $511137. Sheridan also had $914000 of assets on January 1 and $807000 on December 31. What is the corporation's ROI for the year? O 59.4% O 26.8% O 34.9% O 58.8%
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