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QUESTION 15 Suppose you have been given the following summary financial information about a company: 2019A 2020A Sales 800 1,000 Oi (after-tax) 150 200 INFI
QUESTION 15 Suppose you have been given the following summary financial information about a company: 2019A 2020A Sales 800 1,000 Oi (after-tax) 150 200 INFI (after-tax) 50 100 CI 200 300 OA 2,000 3,000 JOL 400 600 INOA 1,600 2,400 FA 1,000 1,000 FO 500 500l INFA 500 500 CSE 2,100 2,900 Additional information: The company's short-term borrowing cost (after-tax) is 3% Required What is the company's asset turnover for 2020, calculated using average balance sheet amounts? Answer to one decimal place (2 marks)
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