Crafty Inc. reported the following financial data. Sales, $180,000; operating expenses $160,000; average operating assets, $150,000; total liabilities, $98,000. The company requires a minimum 12% return on investments. What is the asset turnover ratio?
Crafty Inc. reported the following financial data. Sales, $180,000; operating expenses $160,000; average operating assets, $150,000; total liabilities, $98,000. The company requires a minimum 12% return on investments. What is the asset turnover ratio?
Chapter3: Evaluation Of Financial Performance
Section: Chapter Questions
Problem 19P
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![Crafty Inc. reported the following financial data. Sales, $180,000; operating expenses $160,000;
average operating assets, $150,000; total liabilities, $98,000. The company requires a minimum 12%
return on investments. What is the asset turnover ratio?
O.133
O.18
O 1.2
O .111](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5b5e23b1-d085-41c2-bcc5-0b906fbf69a2%2F8322c7d2-9ed7-41d5-b9bc-a78aae39e7a4%2F04mdz5c_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Crafty Inc. reported the following financial data. Sales, $180,000; operating expenses $160,000;
average operating assets, $150,000; total liabilities, $98,000. The company requires a minimum 12%
return on investments. What is the asset turnover ratio?
O.133
O.18
O 1.2
O .111
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