Calculate the Asset Turnover for Chrissie's Cooking Supply based on its Balance Sheet and Income Statement. Use average balances in your calculation where applicable. (On 12/31/2014, Chrissie's Cooking Supply had total assets of $65,173.)

Calculate the Asset Turnover for Chrissie's Cooking Supply based on its Balance Sheet and Income Statement. Use average balances in your calculation where applicable. (On 12/31/2014, Chrissie's Cooking Supply had total assets of $65,173.) DATA HOME INSERT fx B A C D Chrissie's Cooking Supply 1 Balance Sheet as of December 31, 2015 2 3 Total assets on 12/31/2014:: Cash and cash equivalents 22,224 4 65,173 Accounts Receivable, net 8,107 5 Inventory 21,695 6 Other current assets 7,162 7 Property, plant and equipment 27,186 Intangibles, net 7,276 Asset Turnover: 9 Other non-current assets 7,026 10 11 Total assets 12 Accounts payable 100,676 9,870 13 Accrued expenses 13,370 14 Other current liabilities 15 Other non-current liabilities 12,157 9,031 16 Common stock 17 Retained earnings 18 AOCI & Other equity 6,207 56,957 -6,916 Total liabilities and shareholders' equity 100,676 19 20 Chrissie's Cooking Supply 21 Income Statement for Year Ended December 31, 2015 22 23 24 Revenue 152,633 Cost of Sales 71,156 25 Gross Profit 81.477 26 C Accounts payable Accrued expenses 9,870 12 13,370 13 Other current liabilities 12,157 14 Other non-current liabilities 9,031 15 Common stock 6,207 16 Retained earnings 56,957 17 AOCI & Other equity -6,916 18 Total liabilities and shareholders' equity 100,676 19 20 Chrissie's Cooking Supply 21 Income Statement for Year Ended December 31, 2015 22 23 152,633 Revenue 24 Cost of Sales 71,156 25 26 Gross Profit 81,477 Marketing and Sales 55,000 27 General and Administrative 10,987 28 Total Operating Expenses 65,987 29 30 Operating Income 15,490 1,112 Interest Income 31 Interest Expense -12 32 Income Before Taxes 16,590 33 5,374 Income Tax Expense 34 11,216 35 Net Income 36 37