7&8

Which of the following is a correct interpretation of a total asset turnover of 3.0? For each $1 of sales generated by the firm it requires $3 in assets. The firm completely replenishes its available assets every 3.0 days. O For each $1 of assets owned by the firm it generates $3 in sales. The firm completely replenishes its available assets 3 times per year, Question 8 1 pts A firm earns net income of $50,000 in a given year and the firm's retained earnings increase $30,000 for that same year. The retention ratio is: O 60% 25% 75% 40%