Your company ended 2018 with cash of $8M. Cash increased year-end 2019 by 20%. Sales in 2019 were $30M. What is the Cash Turnover Ratio for 2019? 4.2 3.4 4.3 3.8   please giove the right answer and explain

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Your company ended 2018 with cash of $8M. Cash increased year-end 2019 by 20%. Sales in 2019 were $30M. What is the Cash Turnover Ratio for 2019?
4.2
3.4
4.3
3.8
 
please giove the right answer and explain
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