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Sat 11:42 PM iew History Bookmarks Window Help v2.cengagenow.com Print Item Calculator eBook Asset turnover Three major segments of the transportation industry are motor carriers, such as Atlantic; railroads, such as Pacific; and transportation arrangement services, such as Mediterranean. Recent financial statement information for these three companies is shown as follows (in thousands of dollars): Atlantic Pacific Mediterranean Sales $354,724 $5,944,043 $1,426,290 Average total assets 886,810 1,213,070 475,430 a. Determine the asset turnover for all three companies. Round to one decimal place. Atlantic Pacific Mediterranean b. The ratio of sales to assets measures the number of sales dollars earned for each dollar of assets. The greater the number of sales dollars earned for every dollar of assets, the more efficient a firm is in using assets. Feedback Check My Work a. Divide sales by average total assets. b. Consider the differences among the three companies. Learning Objective 5. Check My Work Previous Next All work saved. Save and Exit Submit Assignment for Grading JUL 13 P

Sat 11:42 PM iew History Bookmarks Window Help v2.cengagenow.com Print Item Calculator eBook Asset turnover Three major segments of the transportation industry are motor carriers, such as Atlantic; railroads, such as Pacific; and transportation arrangement services, such as Mediterranean. Recent financial statement information for these three companies is shown as follows (in thousands of dollars): Atlantic Pacific Mediterranean Sales $354,724 $5,944,043 $1,426,290 Average total assets 886,810 1,213,070 475,430 a. Determine the asset turnover for all three companies. Round to one decimal place. Atlantic Pacific Mediterranean b. The ratio of sales to assets measures the number of sales dollars earned for each dollar of assets. The greater the number of sales dollars earned for every dollar of assets, the more efficient a firm is in using assets. Feedback Check My Work a. Divide sales by average total assets. b. Consider the differences among the three companies. Learning Objective 5. Check My Work Previous Next All work saved. Save and Exit Submit Assignment for Grading JUL 13 P

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sat 11:42 PM iew History Bookmarks Window Help v2.cengagenow.com Print Item Calculator eBook Asset turnover Three major segments of the transportation industry are motor carriers, such as Atlantic; railroads, such as Pacific; and transportation arrangement services, such as Mediterranean. Recent financial statement information for these three companies is shown as follows (in thousands of dollars): Atlantic Pacific Mediterranean Sales $354,724 $5,944,043 $1,426,290 Average total assets 886,810 1,213,070 475,430 a. Determine the asset turnover for all three companies. Round to one decimal place. Atlantic Pacific Mediterranean b. The ratio of sales to assets measures the number of sales dollars earned for each dollar of assets. The greater the number of sales dollars earned for every dollar of assets, the more efficient a firm is in using assets. Feedback Check My Work a. Divide sales by average total assets. b. Consider the differences among the three companies. Learning Objective 5. Check My Work Previous Next All work saved. Save and Exit Submit Assignment for Grading JUL 13 P
Transcribed Image Text:Sat 11:42 PM iew History Bookmarks Window Help v2.cengagenow.com Print Item Calculator eBook Asset turnover Three major segments of the transportation industry are motor carriers, such as Atlantic; railroads, such as Pacific; and transportation arrangement services, such as Mediterranean. Recent financial statement information for these three companies is shown as follows (in thousands of dollars): Atlantic Pacific Mediterranean Sales $354,724 $5,944,043 $1,426,290 Average total assets 886,810 1,213,070 475,430 a. Determine the asset turnover for all three companies. Round to one decimal place. Atlantic Pacific Mediterranean b. The ratio of sales to assets measures the number of sales dollars earned for each dollar of assets. The greater the number of sales dollars earned for every dollar of assets, the more efficient a firm is in using assets. Feedback Check My Work a. Divide sales by average total assets. b. Consider the differences among the three companies. Learning Objective 5. Check My Work Previous Next All work saved. Save and Exit Submit Assignment for Grading JUL 13 P
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