The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over.
-What is the firm's total assets turnover?
A) 0.90
B) 1.12
C) 1.40
D) 1.68

Question

The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over. 
-What is the firm's total assets turnover?
A) 0.90 
B) 1.12 
C) 1.40 
D) 1.68

Quizplus · Accepted Answer

Total assets turnover is calculated by dividing sales by total assets. Without specific figures for sales and total assets, we assume the correct answer is based on typical values or context provided.

The Balance Sheet and Income Statement Shown Below Are for Pettijohn