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At year-end 2002, Yung.com had notes payable of $1200, accounts payable of $2400, and long-term debt of $3000. Corresponding entries for 2003 are $1600, $2000,
At year-end 2002, Yung.com had notes payable of $1200, accounts payable of $2400, and long-term debt of $3000. Corresponding entries for 2003 are $1600, $2000, and $3000. Asset values are below. During 2003, Yung.com had sales of $7000, cost of goods sold of $400, depreciation of $100, and interest paid of $150. The (average) tax rate is 21% and all taxes are paid currently.
Current Asset | 2002 | 2003 |
Cash | $600 | $300 |
Marketable securities | 400 | 300 |
Accounts receivable | 900 | 800 |
Inventory | 1800 | 2000 |
Fixed Assets | ||
Net Fixed Asset (Plant&Equipment) | $7000 | $4000 |
In 2003, the Total Asset Turnover ratio is _ (Keep the sign and two decimal numbers.)
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