Step Up Ladders Company provides the following financial information:
Calculate return on investment based on the information given above. (Round your answer to two decimal places.)
A) 9.26%
B) 6.39%
C) 8.06%
D) 7.14%
C) 8.06%
Explanation: Calculation of ROI:
Operating income $250,000
Average assets [($2,700,000 + $3,500,000) / 2] 3,100,000
ROI (Operating income / Average assets) 8.06%
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