Question
The following data relates to ABC Inc. Total assets, December 31, year 1 286000 Total assets, December 31, year 2 494000 Total liabilities, December 31,
The following data relates to ABC Inc.
Total assets, December 31, year 1 286000
Total assets, December 31, year 2 494000
Total liabilities, December 31, year 1 88000
Total liabilities, December 31, year 2 101000
Sales for year 2 800000
Income for year 2 36000
Calculate the total asset turnover rate for year 2.
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Introductory Financial Accounting for Business
Authors: Thomas Edmonds, Christopher Edmonds
1st edition
1260299449, 978-1260299441
