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:

Mass Media

The various means of communication that reach large numbers of people, such as television, newspapers, and the Internet, often used for broadcasting information or entertainment.

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Unwritten rules and principles that dictate behaviors deemed acceptable and important in a society.

20th Century

The period from January 1, 1901, to December 31, 2000, marked by significant developments in technology, politics, and culture on a global scale.

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