The following information is available for our company for the current year: 1. operating income, $45,000 2. -average total assets, $400,000; 3. net sales, $900,000; and 4. required rate of return, 12%. Calculate the asset turnover to two decimal places. 1. O 2.25 times 2. O 4.44 times 3. O 5.00 times 4. O 8.89 times
The following information is available for our company for the current year: 1. operating income, $45,000 2. -average total assets, $400,000; 3. net sales, $900,000; and 4. required rate of return, 12%. Calculate the asset turnover to two decimal places. 1. O 2.25 times 2. O 4.44 times 3. O 5.00 times 4. O 8.89 times
Chapter3: Evaluation Of Financial Performance
Section: Chapter Questions
Problem 19P
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General Accounting
Transcribed Image Text:The following information is available for our company for the current year:
1.
operating income, $45,000
2. -average total assets, $400,000;
3.
net sales, $900,000; and
4.
required rate of return, 12%.
Calculate the asset turnover to two decimal places.
1. O 2.25 times
2. O 4.44 times
3. O 5.00 times
4.
O 8.89 times
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