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The following data are for Cosmo Corp: Accounts Receivable 5,000 Advertising Expense 1,600 Cash 500 Cost of Goods Sold 6,000 Inventory 3,000 Plant Assets 12,000

The following data are for Cosmo Corp:

Accounts Receivable

5,000

Advertising Expense

1,600

Cash

500

Cost of Goods Sold

6,000

Inventory

3,000

Plant Assets

12,000

Research Expense

2,000

Sales

20,000

Total Equity

7,500

Total Liabilities

13,000

Salaries and Wages Expense

10,000

14) Compute Asset Turnover:

a) 1.67

b) 1.11

c) 0.98

d) 2.67

e) 1.54

Explain answer in details please

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