Answered: A company reports the following:Sales…

A company reports the following:Sales $4,400,000Average total assets 2,000,000Determine the asset turnover ratio. Round to one decimal place.

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter14: Financial Statement Analysis

Section: Chapter Questions

Problem 8BE: A company reports the following: Determine the asset turnover ratio. Round to one decimal place.

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Question

A company reports the following:
Sales $4,400,000
Average total assets 2,000,000
Determine the asset turnover ratio. Round to one decimal place.

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