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At January 1, Year 1, Brooks Company had total assets of $1,800,000 and at December 31, Year 1, its total assets were $2,200,000. Brooks' net
At January 1, Year 1, Brooks Company had total assets of $1,800,000 and at December 31, Year 1, its total assets were $2,200,000. Brooks' net sales for Year 1 were $3,700,000 and its Year 1 net income was $110,000. Brooks' asset turnover ratio for Year 1 is: A: .055 B: .050 C: .065 D: 1.85
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