12. For 2012, Hoyle Gompany reports beginning of the year total assets of $900,000, end of the year total assets of $1,100,000, net sales of $750,000, and net income of $100,000. Hoyle's 2012 asset turnover ratio is a. 0.14 times. b.0.15 times. c. 0.68 times. d. 0.75 times. 13. The rate of return on assets for Hoyle in 2012 is a-12.0%. b.1 3.6%. c. 10.0%. d.16.7%. 14. In order for a cost to be capitalized (capital expenditure), the following must be present: a. The useful life of an asset must be increased. b. The quantity of assets must be increased. c. The quality of assets must be increased. d. Any of these answers are correct