The Baily Division recorded operating data as follows for the past two years: Year 1 Year 2 Sales........ ? www $1,200,000 720,000 Stockholders' equity. $540,000 ********** $600,000 ? Average operating assets. Margin. 15% Return on investment..... 22.5% 18% Baily Division's turnover was exactly the same in both Year 1 and Year 2. The net operating income in Year 1 was: Select one: a. $90,000 b. $135,000 c. $140,000 d. $150,000
