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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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