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An analyst has compiled the following 2016 information about Steller Corp. (in millions). Income Statement Data: Net sales = $600, COGS = $300, SG&A expense
An analyst has compiled the following 2016 information about Steller Corp. (in millions).
- Income Statement Data:
- Net sales = $600, COGS = $300, SG&A expense = $50, Interest expense = $10, Income taxes = $56 and Net income = $184
- Balance Sheet Data:
- Beginning and ending total liabilities and equity = $1,125 and $1,275, respectively.
Based on the above data, Steller's total asset turnover is:
A.0.50x
B.Cannot be determined
C.0.53x
D.0.47x
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