Question
During 2018, Landers Corp. had net sales of $17,000,000. The beginning total assets were $8,600,000. The asset turnover ratio was 1.5 times. Calculate the ending
During 2018, Landers Corp. had net sales of $17,000,000. The beginning total assets were $8,600,000. The asset turnover ratio was 1.5 times. Calculate the ending total assets of Landers. (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)
A)14,266,667
B)5,666,667
C)14,066,666
D)8,600,000
The correct answer was C. Can someone explain how to get this?
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Financial And Managerial Accounting
Authors: John J. Wild
9th Edition
1260728773, 9781260728774
