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Question - The following 2013 information is available for leffingwell industries: average assets invested $8,200,000; sales $31,400,000; and expenses $27,600,000.
Required -
A) Calculate return on investment
B) Calculate profit margin (round to one decimal point)
C) Calculate asset turnover (round to one decimal point)
D) Using (B) and (C), prove your answer to (A).
E) Assuming leffingwell's cost of capital is 14%, compute the 2013 residual income.
In 2017, Julie had the following tax information. Salary $ 96,000 Interest and dividend income 12,800. Compute Julie's adjusted gross income and taxable income
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