The following information applies to the Bobby Restaurant:

Cash and marketable securities $10,000

Account Receivable $100,000

Non-quick assets $27,500

Property and equipment $1,500,000

Total sales $2,000,000

Profit Margin 5%

Acid-test 1.2 to 1

Current Ratio 1.5 to 1

ROE 10%

A/R turnover 20 Times

Assume the following

a. The account receivable turnover is based on total sales

b. Total assets are equal to current assets plus non-current assets

c. The balances of balance sheet accounts at the beginning of the year are the same as at the end of the year

Determine the asset turnover