Kroger's 2016 financial statements show net operating profit after tax of $2,286 million, net income of $1,975 million, sales of $115,337 million, and average net operating assets of $18,616 million.
Kroger's net operating asset turnover for the year is:
A) 12.3%
B) 8.11
C) 6.20
D) 10.9%
E) There is not enough information to calculate the ratio.

Question

Quizplus · Accepted Answer

Net operating asset turnover is calculated as Sales divided by Average Net Operating Assets. For Kroger, this is $115,337 million / $18,616 million = 6.20.

Kroger's 2016 Financial Statements Show Net Operating Profit After Tax