A total asset turnover ratio of 3.4 indicates that: Multiple Choice For every $1 in sales, the firm acquired $34 in assets during the period O For every $1 in assets, the firm produced $3 4 in net sales during the period. For every $1 in assets, the firmeomed gross profit or $3.4 during the period. For every $1 in assets, the firm earned $3.4 in net income For every $1 in assets the firm paid $3.4 inexpenses during the benod