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Jumble Book Photo reported the following figures on its December 31, 2016, income statement and balance sheet: Net Sales $455,000 __Dec. 31, 2016_________Dec. 31, 2015__

Jumble Book Photo reported the following figures on its December 31, 2016, income statement and balance sheet:

Net Sales $455,000

__Dec. 31, 2016_________Dec. 31, 2015__

Cash $18,000. $35,000

Acct Rec. $60,000. $80,000

Merch. Inv. $71,000. $72,000

Prepaid Exp. $16,000. $13,000

Property, Plant, $145,000. $22,000 Equipment, Net

Compute the asset turnover ratio for 2016.

Net Sales / Average Total Assets = Asset Turnover Ratio

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