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Chapter 11 Solutions Manual Content
11-1
Chapter 11: Applying Excel
The completed worksheet is shown below.
Chapter 11 Solutions Manual Content
11-2
Chapter 11: Applying Excel (continued)
The completed worksheet, with formulas displayed, is shown below.
Chapter 11 Solutions Manual Content
11-3
Chapter 11: Applying Excel (continued)
1. With the changes in average operating assets, the result is:
An increase in average operating assets will increase both the ROI and
residual income.
Chapter 11 Solutions Manual Content
11-4
Chapter 11: Applying Excel (continued)
2. With the revised data, the worksheet should look like this:
a. As shown above, the ROI is 14%.
