The Reed Division reports the following operating data for the past two years:
Year 1 Year 2
Margin 25% ?
Turnover 2.5 2.0
Average operating assets ? $227,000
Net operating income $43,800 ?
Stockholders equity $80,000 $125,000
Sales ? ?
The return on investment at Reed was exactly the same in Year 1 and Year 2.
Average operating assets in Year 1 were:



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