M4-12 (Algo) Analyzing Total Asset Turnover LO4-3 Catena's Marketing Company has the following adjusted trial balance...

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M4-12 (Algo) Analyzing Total Asset Turnover LO4-3 Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $620 were declared at the end of the year, and 530 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,120 in cash (for a total at the end of the year of 810 shares). These effects are included below: Catena's Marketing Company Adjusted Trial Balance End of the Current Year Debit Credit Cash $ 1,630 Accounts receivable 2,330 Interest receivable 180 Prepaid insurance 1,670 Long-term notes receivable 2,890 Equipment 15,300 Accumulated depreciation $ 2,850 Accounts payable 2,320 Dividends payable 620 Accrued expenses payable 3,900 Income taxes payable Unearned rent revenue Common Stock (810 shares) Additional paid-in capital Retained earnings Sales revenue 2,550 480 81 3,569 3,630 36,850 Interest revenue 120 Rent revenue 560 Wages expense 18,300 Depreciation expense 1,790 Utilities expense 350 Insurance expense 730 Rent expense 9,600 Income tax expense Total 2,760 $ 57,530 $ 57,530 a. Compute total assets for Catena's Marketing Company based on the adjusted trial balance. Total assets b. Compute the company's total asset turnover for the current year, assuming total assets at the end of the prior year were $16,550. Choose Numerator: / Sales Total Asset Turnover = Total Asset Turnover Choose Denominator: Average total assets = Total asset turnover = 0 M4-12 (Algo) Analyzing Total Asset Turnover LO4-3 Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $620 were declared at the end of the year, and 530 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,120 in cash (for a total at the end of the year of 810 shares). These effects are included below: Catena's Marketing Company Adjusted Trial Balance End of the Current Year Debit Credit Cash $ 1,630 Accounts receivable 2,330 Interest receivable 180 Prepaid insurance 1,670 Long-term notes receivable 2,890 Equipment 15,300 Accumulated depreciation $ 2,850 Accounts payable 2,320 Dividends payable 620 Accrued expenses payable 3,900 Income taxes payable Unearned rent revenue Common Stock (810 shares) Additional paid-in capital Retained earnings Sales revenue 2,550 480 81 3,569 3,630 36,850 Interest revenue 120 Rent revenue 560 Wages expense 18,300 Depreciation expense 1,790 Utilities expense 350 Insurance expense 730 Rent expense 9,600 Income tax expense Total 2,760 $ 57,530 $ 57,530 a. Compute total assets for Catena's Marketing Company based on the adjusted trial balance. Total assets b. Compute the company's total asset turnover for the current year, assuming total assets at the end of the prior year were $16,550. Choose Numerator: / Sales Total Asset Turnover = Total Asset Turnover Choose Denominator: Average total assets = Total asset turnover = 0