Exercise 108 Part Level Submission Concord Design Works gene

Exercise 10-8 (Part Level Submission) Concord Design Works generated $271,000 in operating income on sales revenue of $2,000,000. The company had $2,590,000 in assets on January 1 and $2,870,000 in assets on December 31. (a-b) Your answer is correct. (a) Calculate Concord\'s margin. (Round answer to O decimal places, e.g. 65%.) 13.55 Concord\'s margin (b) Calculate Concord\'s asset turnover. (Round answer to 2 decimal places, e.g. 0.65.) 0.73 Concord\'s asset turnover times Click if you would like to Show Work for this question: Open Show Work

Solution

As per chegg guidelines we answer one question per post. Kindly post remaining questions in next post Dear Student Thank you for using Chegg Please find below the answer Statementshowing Computations Paticulars Amount Exercise 10-8 Net operating income               271,000.00 Sales Revenue           2,000,000.00 Concord\'s Margin =271,000/2000,000 13.55% b) Beginning Assets           2,590,000.00 Ending Assets           2,870,000.00 Average Assets = (2590,000+2870,000)/2           2,730,000.00 Asset Turnover= 2000,000/2730,000                            0.73 c) Return on Investment = 271,000/2730,000 9.93%