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In 2012 sales revenue was $120 and net income was $12. 1/1/12 12/31/12 Current Assets $20 $24 Long-Term Assets $70 $86 Current Liabilities $8 $10 Long-Term Liabilities $32 $40 Equity $50 $60 Compute the Asset turnover ratio in 12/31/12.

In 2012 sales revenue was $120 and net income was $12. 1/1/12 12/31/12 Current Assets $20 $24 Long-Term Assets $70 $86 Current Liabilities $8 $10 Long-Term Liabilities $32 $40 Equity $50 $60 Compute the Asset turnover ratio in 12/31/12.

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter7: Fixed Assets, Natural Resources, And Intangible Assets
Section: Chapter Questions
Problem 7.3.1MBA
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Compute the assets turnover ratio

In 2012 sales revenue was $120 and net income was $12. 1/1/12 12/31/12 Current Assets $20 $24 Long-Term Assets $70 $86 Current Liabilities $8 $10 Long-Term Liabilities $32 $40 Equity $50 $60 Compute the Asset turnover ratio in 12/31/12.
Transcribed Image Text:In 2012 sales revenue was $120 and net income was $12. 1/1/12 12/31/12 Current Assets $20 $24 Long-Term Assets $70 $86 Current Liabilities $8 $10 Long-Term Liabilities $32 $40 Equity $50 $60 Compute the Asset turnover ratio in 12/31/12.
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