Practice Do It! Review 02

Practice Do It! Review 02 For 2020, Cullumber Company reported beginning total assets of $200,000 and ending total assets of $300,000. Its net income for this period was $40,000, and its net sales were $400,000. Compute the company's asset turnover for 2020. ( Round answer to 2 decimal places, e.g. 1.25.) Asset turnover times