Compute the assets turnover ratio In 2019, a company reported sales revenue of$180 and net income of $18. The company hadcurrent assets of $30 and long-term assets of $90at the beginning of the year. By the end of theyear, its current assets increased to $38, whilelong-term assets grew to $110.Compute the Asset Turnover Ratio as of 12/31/19.

Step 1:Formula of asset turnover ratio isSales revenue/ average asset Average asset ==(Assets at the…

Answered: In 2019, a company reported sales…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter7: Operating Assets

Section: Chapter Questions

Problem 24CE

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During 2018, Ambiance Company reported net revenue of $3,255,000. The company reported net fixed assets of $840,000 on January 1, 2018 and net fixed assets of $1,020,000 on December 31, 2018.Required: Calculate the fixed asset turnover ratio. (Round your answer to one decimal place.)
Barker, Inc. had reported the foilowing details for the year ended December 31, 2019 Net sales $26,550,000 Total assets 16,100,000 Total liabilities 10,200,000 The company's beginning total assets and liabilities were $15,700,000 and S8,200,000, respectively. Calculate the asset turnover ratio for 2019. (Round your answer to two decimal places.) mp.pd Cla Enr O A. 128 times B. 1.67 times OC. 1.93 times OD. 1.46 times Cla Enre
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Martinez Industries had the following operating results for 2021: Sales = $34,318; Cost of goods sold = $24,212; Depreciation expense = $5,997; Interest expense = $2,710; Dividends paid = $1,996. At the beginning of the year, net fixed assets were $19,940, current assets were $7,054, and current liabilities were $3,992. At the end of the year, net fixed assets were $24,502, current assets were $8,684, and current liabilities were $4,673. The tax rate for 2021 was 22 percent. a. What is net income for 2021? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b. What is the operating cash flow for 2021? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) c. What is the cash flow from assets for 2021? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) d-1. If no new debt was issued…

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