The following information is provided for Sunland Company and Culver Corporation. (in $ millions) Sunland Company   Culver Corporation Net income 2022   $155       $405   Net sales 2022 1595     4530   Total assets 12/31/20 1040     2130   Total assets 12/31/21 1260     3020   Total assets 12/31/22 1165     4100   What is Sunland's asset turnover for 2022? (Round answer to 2 decimal places, e.g. 15.20.) 0.68 times 1.32 times 0.25 times 3.94 times

Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter9: Metric-analysis Of Financial Statements
Section: Chapter Questions
Problem 9.4.13P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...
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The following information is provided for Sunland Company and Culver Corporation.

(in $ millions)

Sunland Company

 

Culver Corporation

Net income 2022

  $155

   

  $405

 

Net sales 2022

1595

   

4530

 

Total assets 12/31/20

1040

   

2130

 

Total assets 12/31/21

1260

   

3020

 

Total assets 12/31/22

1165

   

4100

 


What is Sunland's asset turnover for 2022? (Round answer to 2 decimal places, e.g. 15.20.)

0.68 times

1.32 times

0.25 times

3.94 times

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