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Consider the following balance sheet for Go The Distance Trading Cards. Sales were $1,142,080.00 in the past year. Go The Distance Trading Cards Balance Sheet,
Consider the following balance sheet for Go The Distance Trading Cards. Sales were $1,142,080.00 in the past year. Go The Distance Trading Cards Balance Sheet, 2013: 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 total asset turnover for this firm?
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