5 POINTS Carlisle Enterprises had sales of $120,000, year-end receivables of$15,000, inventories of $28,000, and total assets of $85,000. Thecompany uses a 365-day year for ratio calculations.What was Carlisle's total asset turnover ratio?a. 1.95b. 1.61c. 1.41d. 1.33e. 1.77

Explanation of Sales: Sales represents the total revenue generated by Carlisle Enterprises from its…

Answered: Carlisle Enterprises had sales of…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

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