QUESTION 10 Consider the following financial data for Mary's Music Stores Statement of Financial Position as of December 31, 2012 Cash 68,500 Accounts payable $ Accounts receivable 219.500 Short-term banknote Inventories 271.500 Accrued wages and taxes Total current assets 559.500 Total short-term liab. Long-term debt Net fixed assets 324.500 Common equity Total assets 8.84.000 Total liabilities & equity $ Statement of Earnings for the Year Ended December 31, 2012 Sales $ 663.500 Cost of sales 377.500 Gross profit 5 286,000 Operating expenses 146,500 Ein het DIT 12 A 104,500 144,000 78.500 327,000 398,000 159.000 8.84.000 Cost of sales Gross profit Operating expenses Earnings before interest and taxes (EBIT) Interest expense Earnings before taxes (EBT) Federal and state income taxes (30 percent) Net earnings 377.500 286,000 146,500 139,500 43,500 96,000 28,800 67,200 $ $ Calculate Mary's total asset turnover. O a. 1.36 Ob. 24.75 O c.0.75 O d. 2.44 O e. 7.60