Lake Coffee Company reported net sales of $180,000, net income of $54,000, beginning total assets of $200,000,
Question:
Lake Coffee Company reported net sales of $180,000, net income of $54,000, beginning total assets of
$200,000, and ending total assets of $300,000. What was the company’s asset turnover?
(a) 0.90
(c) 0.72
(b) 0.20
(d) 1.39
*1
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Related Book For
Financial Accounting
ISBN: 9781118953907
8th Edition
Authors: Paul D Kimmel, Jerry J Weygandt, Donald E Kieso
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