Answered: Net sales of an enterprise are 360,000,…

Net sales of an enterprise are 360,000, short-term liabilities are 25,000, and fixed assets are 70,000 TL. If the current ratio of this business is 2, what is the asset turnover rate?

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 7P: Ace Industries has current assets equal to 3 million. The companys current ratio is 1.5, and its...

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Net sales of an enterprise are 360,000, short-term liabilities are 25,000, and fixed assets are 70,000 TL. If the current ratio of this business is 2, what is the asset turnover rate?

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