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Please help answer, Thanks in advance Palm Inc. has a profit margin of 21% and...

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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%

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