Easy-breczy question 3 (5) pts) Asset turnover: is calculated by dividing total assets by ne: sales compares how well competiog frums manage their assels reveals how profitable a company is compared to its sales goals is calculated from information found on a ficme income statement is another term for inventory turnover. Question 16 Easybroozy question 4 ( 5 pts) The purpose of the income statement is to Jaw the net income or net loss for the time perisd covered lay the stase ement. revenues collected daring the petiod cavered by the statement