Required Information P4-6 (Algo) Inferring Year-End Adjustments, Computing Earnings per Share and Total Asset Turnover, and Recording Closing Entries LO4-1, 4-3, 4-4 [The following information applies to the questions displayed below.] Ramirez Company is completing the Information processing cycle at its fiscal year-end on December 31. Following are the correct balances at December 31 for the accounts both before and after the adjusting entries. Debit After Adjusting Entries Debit Credit $ 14,388 450 Trial Balance, December 31 of the Current Year Before Adjusting Entries Adjustments Items Debit Credit Credit a. Cash $ 14,380 b. Accounts receivable C. Prepaid insurance 840 d. Equipment 169,788 e. Accumulated depreciation, equipment $ 41,800 f. Income taxes payable g. Connon stock and additional paid-in capital 184, eee h. Retained earnings, January 1 28,688 i. Service revenue 73,888 j. Salary expense 55,280 k. Depreciation expense 1. Insurance expense m. Income tax expense $ 249, 280 $ 249, 280 560 169,780 47,eee 1,948 184, eee 20,600 74,250 55,280 5,280 280 1,94 $ 247,798 $ 247,790 P4-6 Part 4 4. Compute the total asset tumover ratio, assuming total assets at the beginning of the year were $114.800. (Round your answer to 2 decimal places.) Total asset turnover ratio