A company reports the following: Sales .................................. $4,400,000 Average total assets ................. 2,000,000 Determine the asset turnover

Question:

A company reports the following:
Sales .................................. $4,400,000
Average total assets ................. 2,000,000
Determine the ratio. Round to one decimal place?
Asset Turnover
Asset turnover is sales divided by total assets. Important for comparison over time and to other companies of the same industry. This is a standard business ratio.