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Horizon Corporation provides the following financial data for the current year: • Operating income: $85,000 • Average total assets: $620,000 • Net sales: $820,000 Required rate of return: 14% Calculate the asset turnover. A) 1.32 times B) 1.48 times C) 1.67 times

Horizon Corporation provides the following financial data for the current year: • Operating income: $85,000 • Average total assets: $620,000 • Net sales: $820,000 Required rate of return: 14% Calculate the asset turnover. A) 1.32 times B) 1.48 times C) 1.67 times

EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter3: Evaluation Of Financial Performance
Section: Chapter Questions
Problem 19P
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Calculate the asset turnover

Horizon Corporation provides the following financial data for the current year: • Operating income: $85,000 • Average total assets: $620,000 • Net sales: $820,000 Required rate of return: 14% Calculate the asset turnover. A) 1.32 times B) 1.48 times C) 1.67 times
Transcribed Image Text:Horizon Corporation provides the following financial data for the current year: • Operating income: $85,000 • Average total assets: $620,000 • Net sales: $820,000 Required rate of return: 14% Calculate the asset turnover. A) 1.32 times B) 1.48 times C) 1.67 times
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