Elway Company provided the following income statement for the last year:

Sales $ 1,040,000,000
Less: Variable expenses 700,250,000
Contribution margin $ 339,750,000
Less: Fixed expenses 183,750,000
Operating income $ 156,000,000

At the beginning of last year, Elway had $28,300,000 in operating assets. At the end of the year, Elway had $23,700,000 in operating assets.
Required:
1. Compute average operating assets.
2. Compute the margin and turnover ratios for last year.
3. Compute ROI.
4. CONCEPTUAL CONNECTION Briefly explain the meaning of ROI.
5. CONCEPTUAL CONNECTION Comment on why the ROI for Elway Company is rela- tively high