Answered: The Florida Division of Garner…

The Florida Division of Garner Furniture reported the following results for 2020: Invested capital $800,000 Profit margin 5% Return on investment 8% Given this information, how much was sales?

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

100%

The Florida Division of Garner Furniture reported the following results for 2020:

Invested capital $800,000

Profit margin 5%

Return on investment 8%

Given this information, how much was sales?

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

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