Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please help answer, thanks in advance palm inc.

Please help answer, Thanks in advance Palm Inc. has a profit margin of...

70.2K

Verified Solution

Question

Accounting

Please help answer, Thanks in advance

Palm Inc. has a profit margin of 21% and an investment turnover of 4. Sales revenue is $1,600,000. What is the amount of average invested assets?

a) $224,000

b) $400,000

c) $240,000

d) $112,000

Grove Corp. has revenues of $1,538,000 resulting in an operating income of $183,000. Average invested assets total $811,000. If sales increase by 10% and the investment level remains constant, what is the investment turnover?

a) 2.09

b) 11.90%

c) 1.90

d) 12.60%

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

Basic Math
1.2K views

A circle has a diameter of 20 units. Find the area100?10?20?400?

Statistics
1.2K views

Here is a data set summarized as a stem and leaf plot 2 012344467 3...

Calculus
1.2K views

Suppose a person 6.6 feet tall throws a rock vertically upward. Determine the initial velocity,...

Algebra
1.2K views

Find the vertical asymptotes if any of the graph of the rational function x 4...

Accounting
1.2K views

Bank overdrafts will require a journal entry at the end of the year to record...

Accounting
1.2K views

Our examples in the chapter have focused on manufacturing, where the output is units of...

Accounting
1.2K views

The final step of the two-stage cost allocation system is to assign costs to cost...

Accounting
1.2K views

Johns Specialty Store uses a periodic inventory system. The following are some inventory transactions for...

Accounting
1.2K views

En el estado de flujos de efectivo se consideran las entradas y salidas de efectivo...

Accounting
1.2K views

Required information Use the following information for the Exercise below. (Static) [The following information applies...

Accounting
1.2K views

LUONDO 2 cing OO 14 LAN 53, 15, M tors DI Ary Se 230,00 1,...

Accounting
1.2K views

Record the LIFO adjustment Required information Problem 6-2A Calculate ending...