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The balance sheet of Tech Track reports total assets of $400,000 and $600,000 at the beginning and end of the year, respectively. Sales revenue for
The balance sheet of Tech Track reports total assets of $400,000 and $600,000 at the beginning and end of the year, respectively. Sales revenue for the year is $1,000,000 ($800,000 in the previous year), net income is $40,000, and net cash flows from operating activities are $50,000. How does Tech Track's asset turnover compare to the industry average of 2.0 times? Multiple Choice O Better. Better Cannot be determined with the data provided. Worse. o oo Same as
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