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Consider the following balance sheet for Go The Distance Trading Cards. Sales were $1,135,575.00 in the past year. Go The Distance Trading Cards Balance Sheet,

Consider the following balance sheet for Go The Distance Trading Cards. Sales were $1,135,575.00 in the past year.

Go The Distance Trading Cards Balance Sheet, 2018:

Account Amount
Assets:
Current Assets $75,000
Net fixed Assets (Net PPE) $225,000
TOTAL ASSETS $300,000
Liabilities and Shareholder Equity
Current Liabilities $50,000
Long-term liabilities (Long term debt) $100,000
TOTAL LIABILITIES $150,000
Shareholder equity $150,000
TOTAL LIABILITIES AND EQUITY $300,000

What is the fixed asset turnover for this firm?

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