Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity $ 30,400 87,900 111,000 10,900 278,000 $518, 200 $ 36,000 $ 38,000 62,000 49,500 81,200 54,500 9,250 4,500 248,500 227,000 $436,950 $ 373,500 $128,400 97,000 162,500 130,300 $518,200 $ 75,250 $ 50,600 98,750 80,600 162,500 162,500 100,450 79,800 $436,950 $ 373,500 The company's income statements for the Current Year and 1 Year Ago, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Yr $755,000 $453,000 234,050 11,800 9,300 708, 150 $ 46,850 $ 2.88 1 yr ago $ 550,000 $346,500 126,500 13,100 8,825 494,925 $ 55,075 $ 3.39 For both the Current Year and 1 Year Ago, compute the following ratios: Total asset turnover. Total Asset Turnover Choose Numerator: Choose Denominator: Total Asset Turnover 1 Total asset turnover Current Year: = Year Ago: times 11 times Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity $ 30,400 87,900 111,000 10,900 278,000 $518, 200 $ 36,000 $ 38,000 62,000 49,500 81,200 54,500 9,250 4,500 248,500 227,000 $436,950 $ 373,500 $128,400 97,000 162,500 130,300 $518,200 $ 75,250 $ 50,600 98,750 80,600 162,500 162,500 100,450 79,800 $436,950 $ 373,500 The company's income statements for the Current Year and 1 Year Ago, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Yr $755,000 $453,000 234,050 11,800 9,300 708, 150 $ 46,850 $ 2.88 1 yr ago $ 550,000 $346,500 126,500 13,100 8,825 494,925 $ 55,075 $ 3.39 For both the Current Year and 1 Year Ago, compute the following ratios: Total asset turnover. Total Asset Turnover Choose Numerator: Choose Denominator: Total Asset Turnover 1 Total asset turnover Current Year: = Year Ago: times 11 times