Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. fitness fanatics is a regional chain of health clu

Fitness Fanatics is a regional chain of health clubs. The managers of the clubs, who...

70.2K

Verified Solution

Question

Accounting

Fitness Fanatics is a regional chain of health clubs. The managers of the clubs, who have authority to make investments as needed, are evaluated based largely on return on investment (ROI). The company's Springfield Club reported the following results for the past year:

Sales $ 710,000
Net operating income $ 11,360
Average operating assets $ 100,000

The following questions are to be considered independently.

Required:

1. Compute the Springfield clubs return on investment (ROI). (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Return on investment (ROI) ________%

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Physics
1.2K views

A spherical shell of radius R carries a uniform surface charge do on the northern...

Basic Math
1.2K views

10 1 point Which is true for any AABC sin A sin B sin C...

Basic Math
1.2K views

2 What is the equation of the line in the graph A y 2x 4...

Algebra
1.2K views

Question 1 Use matrix inversion X 4 to solve the given systems of linear equ...

Accounting
1.2K views

Problem 13-1 Calculating deferred tax amounts (LO 13-2, LO 13-4) Moss Inc. follows GAAP for...

Accounting
1.2K views

Entries for Materials The materials purchased during April on account are summarized from the receiving...

Accounting
1.2K views

Look back on the research and discussion surrounding Grant Department stores a few weeks ago....

Accounting
1.2K views

QUESTION 14 The correct label for Shape 1 in the flowchart below is Inventory Control...

Accounting
1.2K views

Due to erratic sales of its sole product-a high-capacity battery for laptop computers-PEM, Inc., has...

Accounting
1.2K views

Hello, can to you tell me what goes on a T-Account, The adjusted entries from...

Finance
1.2K views

QUESTION 3 4 F What is a feasible set? A. It is a set of...

Finance
1.2K views

Paymore Products places orders for goods equal to 75% of its sales forecast in the...