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A company reports the following information for the year: ⚫ Net Sales: $1,200,000 ⚫ Total Assets at beginning of year: $500,000 ⚫ Total Assets at end of year: $700,000 What is the Total Asset Turnover ratio? a) 2.00 b) 1.71 c) 1.85 d) 1.50

A company reports the following information for the year: ⚫ Net Sales: $1,200,000 ⚫ Total Assets at beginning of year: $500,000 ⚫ Total Assets at end of year: $700,000 What is the Total Asset Turnover ratio? a) 2.00 b) 1.71 c) 1.85 d) 1.50

EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter3: Evaluation Of Financial Performance
Section: Chapter Questions
Problem 19P
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A company reports the following information for the year: ⚫ Net Sales: $1,200,000 ⚫ Total Assets at beginning of year: $500,000 ⚫ Total Assets at end of year: $700,000 What is the Total Asset Turnover ratio? a) 2.00 b) 1.71 c) 1.85 d) 1.50
Transcribed Image Text:A company reports the following information for the year: ⚫ Net Sales: $1,200,000 ⚫ Total Assets at beginning of year: $500,000 ⚫ Total Assets at end of year: $700,000 What is the Total Asset Turnover ratio? a) 2.00 b) 1.71 c) 1.85 d) 1.50
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