Magpie Creations has a fixed asset turnover of 2.30 times. The ratio indicates that:

a. Magpie's cost of goods sold is $2.30 for each dollar invested in fixed assets.

b. Magpie has $2.3 worth of assets for each dollar of cost of goods sold.

c. Magpie generates revenue of $2.30 for each dollar invested in fixed assets.

d. Magpie has $2.3 worth of assets for each dollar of revenue generated.