Please provide the correct answer to this financial accounting problem using accurate calculations. Birch Ltd. had net sales of $248,000, beginning totalassets of $105,000, and ending total assets of $175,000.Find Birch's asset turnover ratio.a. 1.65 timesb. 1.77 timesc. 2.18 timesd. 1.40 times

Step 1: Definition of Asset Turnover RatioThe Asset Turnover Ratio is a financial efficiency metric…

Answered: Birch Ltd. had net sales of $248,000,…

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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Birch Ltd. had net sales of $248,000, beginning total assets of $105,000, and ending total assets of $175,000. Find Birch's asset turnover ratio. a. 1.65 times b. 1.77 times c. 2.18 times d. 1.40 times