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Accounting: What the Numbers Mean 9th Edition by Wayne W McManus, Daniel F Viele, David H Marshall
Edition 9ISBN: 0073527068Accounting: What the Numbers Mean 9th Edition by Wayne W McManus, Daniel F Viele, David H Marshall
Edition 9ISBN: 0073527068 Exercise 16
Step-by-step solution
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Step 1 of 2
a. Margin * 2.4 Turnover = 12% ROI
Margin =5%
5% Margin = (Net Income / Sales $96,000,000)
Net Income = $4,800,000(or $4.8 million)
Step 2 of 2
Accounting: What the Numbers Mean 9th Edition by Wayne W McManus, Daniel F Viele, David H Marshall
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