Please solve this question General accounting and step by step explanation At the end of the year, Spotless Dry Cleaners (SDC) had$300,000 in total assets.a) If SDC's total assets turnover was 2.5, what were itssales revenue?b) If SDC's return on assets was 8 percent, what were itsnet income and net profit margin?

Step 1: DefinitionAsset Turnover RatioThe asset turnover ratio is a financial metric that measures…

Answered: At the end of the year, Spotless Dry…

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Chapter2: Analysis Of Financial Statements

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At the end of the year, Spotless Dry Cleaners (SDC) had $300,000 in total assets. a) If SDC's total assets turnover was 2.5, what were its sales revenue? b) If SDC's return on assets was 8 percent, what were its net income and net profit margin?