
Answer:
B, net income for the year was $1,200,000, average assets were $20 million, ROI was 6%
Explanation:
net income is calculated by multiplying the percentage margin by the sales. We have,
(2 Ă· 100) Ă— $60,000,000
= 0.02 Ă— $60,000,000
= $1,200,000
To calculate the average assets, sales is divided by the turnover.
we have, ($60,000,000 Ă· 3.0)
= $20,000,000.
To calculate the ROI, margin and turnover are multiplied.
we have,
(2% Ă— 3.0) = 6%
Cheers.