Use the following selected balance sheet and income statement information for Sirius Supply Co. to compute asset turnover, to the nearest hundredth of a percent.

A) 0.32
B) 0.16
C) 2.36
D) 1.53

Name: Use the following selected balance sheet and income statement information for Sirius Supply Co. to compute asset turnover, to the nearest hundredth of a percent. A) 0.32 B) 0.16 C) 2.36 D) 1.53
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Question

Use the following selected balance sheet and income statement information for Sirius Supply Co. to compute asset turnover, to the nearest hundredth of a percent.

A) 0.32 
B) 0.16 
C) 2.36 
D) 1.53

Quizplus · Accepted Answer

Asset turnover = Sales revenue / average total assets = $1,703,130 / $721,200 = 2.36

Use the Following Selected Balance Sheet and Income Statement Information