Carter Manufacturing had sales of $1,250,000, net operating income of $187,500, and operating assets of $265,000 at the beginning of the year and $295,000 at the end of the year. What was the company's asset turnover ratio rounded to the nearest tenth?

Carter Manufacturing had sales of $1,250,000, net operating income of $187,500, and operating assets of $265,000 at the beginning of the year and $295,000 at the end of the year. What was the company's asset turnover ratio rounded to the nearest tenth?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 6EA: During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of...

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Question

Please provide the correct answer to this general accounting problem using accurate calculations.

Carter Manufacturing had sales of $1,250,000, net operating income
of $187,500, and operating assets of $265,000 at the beginning of the
year and $295,000 at the end of the year. What was the company's
asset turnover ratio rounded to the nearest tenth?

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