Bobick Company provided the following information for last year: Operating income $64,000 Sales $200,000 Beginning operating assets $387,000 Ending operating assets $413,000 Bobick's turnover ratio for last year was: a. 2.0 b. 0.16 c. 0.32 d. 0.5 e. 0.1

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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General Accounting

Bobick Company provided the following
information for last year:
Operating income
$64,000
Sales
$200,000
Beginning operating assets $387,000
Ending operating assets $413,000
Bobick's turnover ratio for last year was:
a. 2.0
b. 0.16
c. 0.32
d. 0.5
e. 0.1
Transcribed Image Text:Bobick Company provided the following information for last year: Operating income $64,000 Sales $200,000 Beginning operating assets $387,000 Ending operating assets $413,000 Bobick's turnover ratio for last year was: a. 2.0 b. 0.16 c. 0.32 d. 0.5 e. 0.1
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