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Question: 33 For 2022, Shoring Engineers reported beginning total assets of $410,000 and ending total assets of $450,000. Its net income for this period was $66,300, and its net sales were $645,000. Compute the company's asset turnover for 2022.

Question: 33 For 2022, Shoring Engineers reported beginning total assets of $410,000 and ending total assets of $450,000. Its net income for this period was $66,300, and its net sales were $645,000. Compute the company's asset turnover for 2022.

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter7: Fixed Assets, Natural Resources, And Intangible Assets
Section: Chapter Questions
Problem 7.3.1MBA
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Question: 33 For 2022, Shoring Engineers reported beginning total assets of $410,000 and ending total assets of $450,000. Its net income for this period was $66,300, and its net sales were $645,000. Compute the company's asset turnover for 2022.
Transcribed Image Text:Question: 33 For 2022, Shoring Engineers reported beginning total assets of $410,000 and ending total assets of $450,000. Its net income for this period was $66,300, and its net sales were $645,000. Compute the company's asset turnover for 2022.
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