Profit margin, investment turnover, and Return on Investment The condensed income statement for the International Division of Valgenti Inc. is as follows (assuming no service department charges): Sales $24,000,000 Cost of goods sold (14,100,000) Gross profit $ 9,900,000 Administrative expenses (6,060,000) Operating income $ 3,840,000 The manager of the International Division is considering ways to increase the return on investment. a. Using the DuPont formula for return on investment, determine the profit margin, investment turnover, and return on investment of the International Division, assuming that $20,000,000 of assets have been invested in the International Division. Round your answers to one decimal place, if necessary. Profit margin: fill in the blank 1 % Investment turnover: fill in the blank 2 Rate of return on investment: fill in the blank 3 % b. If expenses could be reduced by $240,000 without decreasing sales, what would be the impact on the profit margin, investment turnover, and return on investment for the International Division