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At the beginning of the year, Bell Corporation's balance sheet showed total assets of $14,000,000, and at the end of the year, the total assets had grown to $16,000,000. Bell had a net income of $2,000,000 based on sales of $30,000,000. What was the total asset turnover for Bell? a) $0.50 b) $1.87 c) $2.14 d) $2.00

At the beginning of the year, Bell Corporation's balance sheet showed total assets of $14,000,000, and at the end of the year, the total assets had grown to $16,000,000. Bell had a net income of $2,000,000 based on sales of $30,000,000. What was the total asset turnover for Bell? a) $0.50 b) $1.87 c) $2.14 d) $2.00

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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At the beginning of the year, Bell Corporation's balance sheet showed total assets of $14,000,000, and at the end of the year, the total assets had grown to $16,000,000. Bell had a net income of $2,000,000 based on sales of $30,000,000. What was the total asset turnover for Bell? a) $0.50 b) $1.87 c) $2.14 d) $2.00
Transcribed Image Text:At the beginning of the year, Bell Corporation's balance sheet showed total assets of $14,000,000, and at the end of the year, the total assets had grown to $16,000,000. Bell had a net income of $2,000,000 based on sales of $30,000,000. What was the total asset turnover for Bell? a) $0.50 b) $1.87 c) $2.14 d) $2.00
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