Textbook Problem

Use the following information for Brief Exercises 11-19 through 11-21:

Barnard Manufacturing earned operating income last year as shown in the following income statement:

At the beginning of the year, the value of operating assets was $2,700,000. At the end of the year, the value of operating assets was $2,300,000.

Brief Exercise 11-19 Calculating Average Operating Assets, Margin, Turnover, and Return on Investment

Refer to the information for Barnard Manufacturing on the previous page. Round answers to two decimal places.

Required:

Calculate (1) average operating assets, (2) margin, (3) turnover, and (4) return on investment.