10. The total noncurrent labies reported on the statement of financial position an 1,945.000 1,075.000 L095,000 2,085.000 Aseet turnover measures a how often a company replaces its assets. bhow efficiently a company uses its assets to generate sales c. the portion of the assets that have been financed by creditors. d the overall rate of return on assets. A company reported the following on its income statement Income before income taxes Income tax expense Net income $600,000 150.000 $450.000 An analysis of the income statement revealed that interest expense was times interest earned was a. 11 times b. 10 times. 12. 11. c. 8.5 times. d. 7.5 times. The debt to assets ratio measures a. the company's profitability. b. whether interest can be paid on debt in the current year. c. the proportion of interest paid relative to dividends paid. d. the percentage of the total assets provided by creditors. Canada Company had 375,000 of current assets and 150,00 before borrowing 70,000 from the bank with a 3-month note payas borrowing transaction have on the amount of Canada Company's a. No effect b. 70,000 increase c. 140,000 increase d. 70,000 decrease