Use the following balance sheet and income statement to calculate the firm's total asset turnover (sales / total assets): Income Statement Balance Sheet Assets: Cash Accounts Receivable Inventories Land $3,000 5.000 6,500 20,000 Sales (all credit) $85,000 Cost of Goods Sold (51,000) (15,000) Operating Expenses Depreciation Other Fixed Assets 18,000 (1,000) Interest Expense (3,000) Liabilities & Owners Equity Accounts Payable Long Term Debt Common Stock Paid in Capital Retained Earnings Taxes (5.100) 4,000 26,700 5,000 12,000 4,800 1.62 224 1.56 1.91 O 1.79