Question
6. Huge Cart Inc. gives you the following information pertaining to the year 2017. Net sales $850,000 Cost of goods sold 500,000 Current assets 500,000
6. Huge Cart Inc. gives you the following information pertaining to the year 2017.
Net sales $850,000
Cost of goods sold 500,000
Current assets 500,000
Current liabilities 250,000
Average total assets 1,000,000
Total liabilities 550,000
Net income 150,000
The asset turnover ratio of Huge Cart Inc. is
a. 0.50
b. 0.15
c. 0.85
d. 1.18
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Introduction To Financial Accounting
Authors: Charles T Horngren, Gary L Sundem
10th Edition
136122973, 978-0136122975
