The following information was drawn from the accounting records of Jones Company. (Round your answer to 2 decimal places.)

Net sales	$	311,111
Net income		70,000
Average total assets		600,000
Average total liabilities		400,000
Average total stockholders' equity		250,000

Based on this information the company's asset turnover is

Multiple Choice

• $0.52 of sales dollars per $1 of assets.

• $2.25 of sales dollars per $1 of assets.

• $1.17 of sales dollars per $1 of assets.

• None of the choices is correct.