A total asset turnover ratio of 3.6 indicates that: 182 Multiple Choice Skipped For every $1 in assets, the firm earned gross profit of $3.6 during the period. For every $1 in assets, the firm earned $3.6 in net income. For every $1 in sales, the firm acquired $3.6 in assets during the period. For every $1 in assets, the firm produced $3.6 in net sales during the period. For every $1 in assets, the firm paid $3.6 in expenses during the period