Assets turnover For 2022, Shoring Engineers reported beginning total assetsof $410,000 and ending total assets of $450,000. Its netincome for this period was $66,300, and its net sales were$645,000.Compute the company's asset turnover for 2022.

Step 1: Define Asset Turnover RatioThe asset turnover ratio, defined as the ratio of a firm's net…

Answered: For 2022, Shoring Engineers reported…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

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For 2022, Shoring Engineers reported beginning total assets of $410,000 and ending total assets of $450,000. Its net income for this period was $66,300, and its net sales were $645,000. Compute the company's asset turnover for 2022.