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Kalebs Karate Supply had a profit margin of 11 percent, sales of $23.4 million, and total assets of $8.9 million. a. What was the total
Kalebs Karate Supply had a profit margin of 11 percent, sales of $23.4 million, and total assets of $8.9 million. |
a. | What was the total asset turnover? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
b. | If management set a goal of increasing total asset turnover to 2.75 times, what would the new sales figure need to be, assuming no increase in total assets? |
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