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Selected data from the 2015 financial statements of KRJ Manufacturing are presented below. Calculate the total asset turnover for the year, rounded to two decimal
Selected data from the 2015 financial statements of KRJ Manufacturing are presented below. Calculate the total asset turnover for the year, rounded to two decimal places. e.g. 20.00.
Sales $109,663
Gross profits $94,084
Operating profits (EBIT) $34,571
Earnings before taxes (EBT) $27,189
Net profits $17,467
Tax expense 9,549
Depreciation expense $14,702
Total assets, Dec. 31, 2014 $82,905
Total assets, Dec. 31, 2015 $83,331
Total equity, Dec. 31, 2014 $46,228
Total equity, Dec. 31, 2015 $49,950
Cash flow from operations $33,951
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