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Concord Company reported the following information: Total assets, beginning of year $ 125,000 Total assets, end of year 75,000 For the current year: Net sales
Concord Company reported the following information:
| Total assets, beginning of year | $ | 125,000 | |
| Total assets, end of year | 75,000 | ||
| For the current year: | |||
| Net sales | 850,000 | ||
| Gross margin | 300,000 | ||
| Net income | 400,000 | ||
What is the companys total asset turnover ratio for the current year? (Round your answer to 1 decimal place.)
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The Accounting And Financial Audit
Authors: Landry Kouamé
1st Edition
620430481X, 978-6204304816
