Question
Magic Flutes has total receivables of $4,400, which represent 20 days sales. Total assets are $82,000. The firms operating profit margin is 5.70%. Assume a
Magic Flutes has total receivables of $4,400, which represent 20 days sales. Total assets are $82,000. The firms operating profit margin is 5.70%. Assume a 365-day year.
a. What is the firm's sales-to-assets ratio? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
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Personal Finance
Authors: Jack Kapoor
6th Edition
0072350849, 9780072350845
