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.

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Definitions:

Autonomic Arousal

The activation of the autonomic nervous system, which regulates involuntary bodily functions and is associated with stress and emotional responses.

Conscious Experience

The direct awareness or perception of events, objects, thoughts, and emotions by an individual.

Theorists

Individuals who formulate theories in a particular field of study, offering explanations or models based on observation and reasoning.

Common-sense View

The intuitive or ordinary understanding of a situation or concept, without the need for scientific investigation.