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The following data was adapted from recent financial statements of Hammond Corporation: Line Item Description Year 2 Year 1 Sales $43,650 $39,400 Beginning of year
The following data was adapted from recent financial statements of Hammond Corporation: Line Item Description Year 2 Year 1 Sales $43,650 $39,400 Beginning of year property, plant, and equipment 24,300 24,500 End of year property, plant, and equipment 24,200 24,300 Compute the asset turnover for Year 2. Round to two decimal places. a. 1.62 b. 1.82 c. 1.60 d. 1.80
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