Please given correct option general accounting Maple Corp. had net sales of $200,550 for the year ended December 31,2015. Its beginning and ending total assets were $75,200 and $110,500,respectively. Determine Maple's asset turnover ratio for the year endedDecember 31, 2015.a. 0.46 timesb. 2.67 timesc. 1.18 timesd. 2.16 times

Average Total Assets = (Beginning Total Assets + Ending Total Assets) / 2= ($75,200 + $110,500) / 2…

Answered: Maple Corp. had net sales of $200,550…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 6MCQ

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Maple Corp. had net sales of $200,550 for the year ended December 31, 2015. Its beginning and ending total assets were $75,200 and $110,500, respectively. Determine Maple's asset turnover ratio for the year ended December 31, 2015. a. 0.46 times b. 2.67 times c. 1.18 times d. 2.16 times