Heliports Division, a unit of a multinational corporation, reported the following for the most recent year: • Sales: $19,200,000 . Net Operating Income: $1,560,000 Average Operating Assets: $4,800,000 What is the division's asset turnover ratio, rounded to two decimal places?

Heliports Division, a unit of a multinational corporation, reported the following for the most recent year: • Sales: $19,200,000 . Net Operating Income: $1,560,000 Average Operating Assets: $4,800,000 What is the division's asset turnover ratio, rounded to two decimal places?

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

Can you solve this financial accounting problem using accurate calculation methods?

Heliports Division, a unit of a multinational corporation,
reported the following for the most recent year:
•
Sales: $19,200,000
.
Net Operating Income: $1,560,000
Average Operating Assets: $4,800,000
What is the division's asset turnover ratio, rounded to two
decimal places?

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