Marino Company has provided the following information:
Net sales,$480,000
Net income,$24,000
Average total assets,$200,000
What is Marino's asset turnover ratio?
A)12.0
B)8.33
C).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 asset turnover ratio? A)12.0 B)8.33 C).42 D)2.4
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Question

Marino Company has provided the following information:
 Net sales,$480,000
 Net income,$24,000
 Average total assets,$200,000
What is Marino's asset turnover ratio?
A)12.0
B)8.33
C).42
D)2.4

Quizplus · Accepted Answer

The asset turnover ratio (2.4) is net sales ($480,000) divided by average total assets ($200,000).

Marino Company Has Provided the Following Information