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What is the asset turnover for year 2 ? The Home Depot (HD) reported the following data (in millions) jn i s ecent financial statements}-

What is the asset turnover for year 2?
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The Home Depot (HD) reported the following data (in millions) jn i s ecent financial statements}- Total sales Total assets: Year 2 Year 1 $122,110 $110,225 Beginning of year 51,236 f 44003 End of year 70/581 , 51236 av Determine the asset turnover ratio for Home Depot for ea 2 and Year 'l Round to two decimal places. Year 2 Asset turnover ratio Year 2.31 b. Whet does an asset turnover ratio indicate?' 1. Effectivenessin the use of assets to generate q*evenueon Effective use of revenue to create assets. Effective use of assets to -reduce cost' L, Effective use of essets to increase -ssstS1

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