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Sales $2,400,000 Average total assets (excluding long-term investments) 1,500,000 Determine the asset turnover ratio

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 19P

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Question

A company reports the following:

	Sales	$2,400,000
	Average total assets (excluding long-term investments)	1,500,000

Determine the asset turnover ratio. Round your answer to one decimal place.
fill in the blank 1

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