Aneko Company reports the following ($ 000s): net sales of $ 14,800 for 2013 and $ 13,990

Question:

Aneko Company reports the following ($ 000s): net sales of $ 14,800 for 2013 and $ 13,990 for 2012; end-of- year total assets of $ 19,100 for 2013 and $ 17,900 for 2012. Compute its total asset turnover for 2013, and assess its level if competitors average a total asset turnover of 2.0 times.

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.