-Marshall Industries has sales of $600,000 and net operating income of $30,000.Marshall's average operating assets total $200,000.What is the company's return on investment? Show your work.
Definitions:
Adjusting Journal Entry
A journal entry made at the end of an accounting period to record any unrecorded income or expenses for that period, ensuring that financial statements adhere to the accrual basis of accounting.
Revenue Account
An account that tracks the income earned from normal business operations.
Expense Account
An income statement account that represents the cost of goods sold, operating expenses, and non-operating expenses.
Income Statement
A financial report that shows the revenues, expenses, and profit or loss of a company over a specific accounting period.
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