Quick answer of this accounting questions Oak Ltd. reported net sales of $325,000 for the year ended December 31, 2023.The company's total assets were $175,000 at the beginning of the year and$225,000 at year-end. What is Oak's asset turnover ratio for 2023?a. 1.63 timesb. 1.45 timesc. 1.86 timesd. 2.05 times

Asset turnover ratio = Net sales / Average total assets Average total assets = (Beginning assets +…

Answered: Oak Ltd. reported net sales of $325,000…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 19P

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Oak Ltd. reported net sales of $325,000 for the year ended December 31, 2023. The company's total assets were $175,000 at the beginning of the year and $225,000 at year-end. What is Oak's asset turnover ratio for 2023? a. 1.63 times b. 1.45 times c. 1.86 times d. 2.05 times