Gooding Custom Design Generated $320,000 in Operating Income on Sales

question 81

Essay

Gooding Custom Design generated $320,000 in operating income on sales revenue of $2,500,000.The company had $3,000,000 in assets on January 1 and $3,250,000 in assets on December 31.
Required:
a.Calculate Gooding's margin.
b.Calculate Gooding's asset turnover.
c.Calculate Gooding's return on investment.

---

Definitions:

Personal Control

The extent to which an individual feels they can influence or direct events in their own life.

Social Support

The perception or reality of assistance and solidarity available from others, which can be emotional, informational, or material.

Convenience Store

A small retail business that sells everyday items such as groceries, snacks, and beverages, often with extended operating hours for customer convenience.

Target of Robbery

The specific person, group, or location that is the intended victim of a robbery.