Hawk's Nest Corp had net sales of $61,300 and total assets of $155,400. Find the asset turnover ratio. (Round to the nearest hundredth)
A) 0.39:1
B) 1.08:1
C) 28.09:1
D) 230.96:1

Name: Hawk's Nest Corp had net sales of $61,300 and total assets of $155,400. Find the asset turnover ratio. (Round to the nearest hundredth) A) 0.39:1 B) 1.08:1 C) 28.09:1 D) 230.96:1
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Quizplus · Accepted Answer

The asset turnover ratio is calculated by dividing net sales by total assets. So, $61,300 / $155,400 = 0.3947, which rounds to 0.39:1.

Hawk's Nest Corp Had Net Sales of $61,300 and Total