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Use the following selected balance sheet and income statement information for Stevens Co. to compute asset turnover, to the nearest hundredth of a percent. Operating
Use the following selected balance sheet and income statement information for Stevens Co. to compute asset turnover, to the nearest hundredth of a percent.
Operating profit before tax | Earnings without interest expense (EWI) | Average total assets | Sales | Tax rate on operating profit |
$120,000 | $192,500 | $653,000 | $1,250,000 | 35% |
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1.91
0.52
0.29
1.34
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