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Kaleb's Karate Supply had a profit margin of 10 percent, sales of $27 million, anc assets of $8 million. n. What was the total asset turnover? (Do not round intermediate calculations and round your ans 2 decimal places, e.g., 32.16.) p. If management set a goal of increasing total asset turnover to 3.5 times, what would the new figure nood to

Kaleb's Karate Supply had a profit margin of 10 percent, sales of $27 million, anc assets of $8 million. n. What was the total asset turnover? (Do not round intermediate calculations and round your ans 2 decimal places, e.g., 32.16.) p. If management set a goal of increasing total asset turnover to 3.5 times, what would the new figure nood to

FINANCIAL ACCOUNTING
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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7. Answer questions A and B
Assignments p.mheducation.com/ext/map/ndechiml?.con=con&external browser%3D0&launchUrl=https%253A%252F%252Flms.r Saved Kaleb's Karate Supply had a profit margin of 10 percent, sales of $27 million, and total assets of $8 million. a. What was the total asset turnover? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. If management set a goal of increasing total asset turnover to 3.5 times, what would the new sales figure need to be, assuming no increase in total assets? (Do not round intermediate calculations and enter your answer in dollars, not millions, rounded to the nearest whole dollar, e.g., 1,234,567.) a. Total asset turnover times b. Sales < Prev 7 of 8 Next > to search 66°F
Transcribed Image Text:Assignments p.mheducation.com/ext/map/ndechiml?.con=con&external browser%3D0&launchUrl=https%253A%252F%252Flms.r Saved Kaleb's Karate Supply had a profit margin of 10 percent, sales of $27 million, and total assets of $8 million. a. What was the total asset turnover? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. If management set a goal of increasing total asset turnover to 3.5 times, what would the new sales figure need to be, assuming no increase in total assets? (Do not round intermediate calculations and enter your answer in dollars, not millions, rounded to the nearest whole dollar, e.g., 1,234,567.) a. Total asset turnover times b. Sales < Prev 7 of 8 Next > to search 66°F
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