[The following information applies to the questions displayed below. Fitness Fanatics...
70.2K
Verified Solution
Link Copied!
Question
Accounting
[The following information applies to the questions displayed below. 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 Net operating Income Average operating assets $920,000 $ 34,040 $ 100,000 3. Assume that the manager of the club is able to reduce expenses by $3,680 without any change in sales or operating assets. What would be the club's return on Investment (ROI)? (Round your Turnover answer to 2 decimal places. Round your Margin and ROI percentage answers to 2 decimal places (.e., 0.1234 should be entered as 12.34).) % Margin Turnover 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: Zin AI - Your personal assistant for all your inquiries!