Accounting Anderson Co. earned $300,000 net income last yearand its net sales were $5,200,000. The beginning totalassets were $13,000,000 and ending total assets were$16,500,000. What is the asset turnover?A) 0.38 times.B) 1.90 times.C) 0.35 times.D) 0.30 times.

Calculation of Average Total AssetsAverage Total Assets = (Beginning Total Assets + Ending Total…

Answered: Anderson Co. earned $300,000 net income…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 6EA: During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of...

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Anderson Co. earned $300,000 net income last year and its net sales were $5,200,000. The beginning total assets were $13,000,000 and ending total assets were $16,500,000. What is the asset turnover? A) 0.38 times. B) 1.90 times. C) 0.35 times. D) 0.30 times.