General accounting Pine Inc. had net sales of $450,000 for the year ended December 31, 2024.Its beginning and ending total assets were $180,000 and $220,000,respectively. Calculate Pine's asset turnover ratio for 2024.a. 1.80 timesb. 2.25 timesc. 2.50 timesd. 2.75 times

Step 1: Definition of Asset Turnover RatioThe asset turnover ratio measures how efficiently a…

Answered: Pine Inc. had net sales of $450,000 for…

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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Pine Inc. had net sales of $450,000 for the year ended December 31, 2024. Its beginning and ending total assets were $180,000 and $220,000, respectively. Calculate Pine's asset turnover ratio for 2024. a. 1.80 times b. 2.25 times c. 2.50 times d. 2.75 times