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Selected financial data for the Entertainment Division of Magic Enterprises is as follows: Sales Operating income $7,200,000 $1,440,000 Total assets Current liabilities $3,000,000 $800,000 Required
Selected financial data for the Entertainment Division of Magic Enterprises is as follows: Sales Operating income $7,200,000 $1,440,000 Total assets Current liabilities $3,000,000 $800,000 Required rate of return 8% What is the Entertainment Division's asset turnover? 1) 2.4 2)9 3) 2.1 4) 1.5 12
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