What is the fixed asset turnover for 2021? Multiple Choice 3.33 times 1.89 times 30 times

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
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What is the fixed asset turnover for 2021?
Multiple Choice
3.33 times
1.89 times
.30 times
4.37 times
2.26 times
Transcribed Image Text:What is the fixed asset turnover for 2021? Multiple Choice 3.33 times 1.89 times .30 times 4.37 times 2.26 times
Use the following information to answer this question:
Net sales
Cost of goods sold
Depreciation
Earnings before interest and taxes
Interest paid
Taxable income
Taxes
Net income
Cash
Accounts received
Inventory
Windswept, Incorporated
2021 Income Statement
($ in millions)
Total
Net fixed assets
Total assets
2020
$ 290
What is the fixed asset turnover for 2021?
1, 170
2, 090
$ 3,550
3, 590
$ 7,140
Windswept, Incorporated
2020 and 2021 Balance Sheets
($ in millions)
2021
$ 13, 850
8, 100
510
$ 5, 240
106
$5, 134
1,078
$4, 056
$ 320
1, 070
1, 780
$ 3, 170
4, 160
$ 7,330
Accounts payable
Long-term debt
Common stock
Retained earnings
Total liabilities & equity
2020
$ 1,940
1, 100
3, 420
680
$ 7,140
2021
$ 1,910
1, 420
3, 070
930
$ 7,330
Transcribed Image Text:Use the following information to answer this question: Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts received Inventory Windswept, Incorporated 2021 Income Statement ($ in millions) Total Net fixed assets Total assets 2020 $ 290 What is the fixed asset turnover for 2021? 1, 170 2, 090 $ 3,550 3, 590 $ 7,140 Windswept, Incorporated 2020 and 2021 Balance Sheets ($ in millions) 2021 $ 13, 850 8, 100 510 $ 5, 240 106 $5, 134 1,078 $4, 056 $ 320 1, 070 1, 780 $ 3, 170 4, 160 $ 7,330 Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity 2020 $ 1,940 1, 100 3, 420 680 $ 7,140 2021 $ 1,910 1, 420 3, 070 930 $ 7,330
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