Question 481 pts

Below is a table of financial metrics from TurndOver Corp., which is listed in millions. Use it to perform a Dupont System analysis for 31-Dec-2020. What is the Asset Turnover ratio? (Use Average Assets)

	31-Dec-2020	31-Dec-2019	31-Dec-2018
Revenue	400.0	375.0	360.0
Cost of Goods Sold	215.0	200.0	195.0
Selling, General, & Administrative	135.0	130.0	125.0
Interest Expense	5.0	4.7	4.5
Taxes	9.5	8.5	7.5
Net Income	35.5	31.8	28.0
Cash	50.0	45.0	40.0
Total Current Assets	105.0	95.0	90.0
Total Assets	360.0	324.0	291.7
Total Current Labilities	65.0	60.0	58.0
Total Liabilities	240.0	239.5	239.0
Shareholders' Equity	120.0	84.5	52.7
Depreciation & Amortization	35.0	30.0	28.0
Gross Investment in Fixed Assets	75.0	70.0	68.0
Increase in L-T Debt	0.5	0.5	0.5

Group of answer choices

a. 0.894

b. 0.927

c. 1.170

d. 1.432