Rivertown Stores has total revenue of $285,400, cost of goods sold equal to 68 percent of sales, and a profit margin of 9.2 percent. Net fixed assets are $126,400 and current assets are $65,880. What is the total asset turnover rate? O4.81 1.48 O 1.30 01.01 O 1.84
Rivertown Stores has total revenue of $285,400, cost of goods sold equal to 68 percent of sales, and a profit margin of 9.2 percent. Net fixed assets are $126,400 and current assets are $65,880. What is the total asset turnover rate? O4.81 1.48 O 1.30 01.01 O 1.84
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter14: Financial Statement Analysis
Section: Chapter Questions
Problem 14.8BE: Asset turnover A company reports the following: Sales 4,400,000 Average total assets (excluding...
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![Question 5
Rivertown Stores has total revenue of $285,400, cost of goods sold equal to 68 percent of sales, and a profit margin of 9.2 percent. Net fixed assets are
$126,400 and current assets are $65,880. What is the total asset turnover rate?
O4.81
1.48
O 1.30
O 1.01
O 1.84](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe1271ff0-3d84-4afa-9857-e47870ba17ac%2Fe3000b77-2550-4915-88ad-9648dded8686%2Fuh99tx_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question 5
Rivertown Stores has total revenue of $285,400, cost of goods sold equal to 68 percent of sales, and a profit margin of 9.2 percent. Net fixed assets are
$126,400 and current assets are $65,880. What is the total asset turnover rate?
O4.81
1.48
O 1.30
O 1.01
O 1.84
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