   Chapter 15.III, Problem 20RE ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

#### Solutions

Chapter
Section ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

# Heads or Tails Coin Shop had net sales of $1,354,600 last year. If the total assets of the company are$2,329,500. what is the asset turnover ratio?

To determine

To calculate: The assets turnover ratio of the heads or tail coin shop which has net sales of $1,354,600, total assets of$2,329,500.

Explanation

Given Information:

The heads or tail coin shop has net sales of $1,354,600, total assets of$2,329,500.

Formula used:

The formula to compute the asset turnover ratio is,

Asset turnover ratio=Net salesTotal assets

Calculation:

Consider net sales of $1,354,600, total assets of$2,329,500

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