Marino Company has provided the following information: Net sales,$480,000
Net income,$24,000
Average total assets,$200,000
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What is Marino's total asset turnover?
A)12.0
B)8.33
C)0.42
D)2.4

Name: Marino Company has provided the following information: Net sales,$480,000 Net income,$24,000 Average total assets,$200,000 - What is Marino's total asset turnover? A)12.0 B)8.33 C)0.42 D)2.4
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Total asset turnover is calculated as Net Sales / Average Total Assets. Therefore, $480,000 / $200,000 = 2.4.

Marino Company Has Provided the Following Information: Net Sales,$480,000