QUESTION 10 Consider the following financial data for Aldo's Computer Stores: $ Balance Sheet as of December 31, 2012 Cash 104,000 Accounts payable 35,500 Receivables 146,000 Short-term bank note 85,000 Inventories 194,000 Accrued wages and taxes 40.500 Total current assets 444,000 Total short-term liab. s 161,000 Long-term debt 230,500 Net fixed assets 255,000 Common equity 307,500 Total assets 699,000 Total liabilities & equity 699,000 Statement of Earnings for the Year Ended December 31, 2012 Sales $ 804,000 Cost of merchandise sold 510,500 Gross profit $ 293,500 Operating expenses 157.000 Earnings before interest and taxes (EBIT) $ 136,500 Interest expense 38,000 Earnings before taxes (EBT) 98,500 Federal and state income taxes (45 percent) 44,325 Net profit $ 54,175 Calculate Aldo's total asset turnover. a. 3.07 b.4.14 c. 27.93 od.7.75 e. 1.15