Can you please answer the accounting question? Ironwood Manufacturing Ltd. has compiled the following information for the year 2021(in millions):CategoryAmountIncome Statement DataNet sales$800Cost of Goods Sold (COGS)$400SG&A expense$60Interest expense$12Income taxes$72Net income$256Balance Sheet DataBeginning total liabilities and equity $1,200Ending total liabilities and equity$1,500Based on the above data, Ironwood's total asset turnover is:a) 0.50xb) Cannot be determinedc) 0.53xd) 0.47x

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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