Flagship Logistics provides the following information: $$\begin{array} { | l | r | }
\hline \text { Operating income } & \$ 1,500,000 \
\hline \text { Net sales } & \$ 14,000,000 \
\hline \text { Average total assets } & \$ 2,000,000 \
\hline \text { Management's target rate of return } & 25 \% \
\hline
\end{array}$$ What is the company's asset turnover ratio? (Round your answer to two decimal places.)
A) 4.00
B) 4.48
C) 12.44
D) 7.00

Question

Flagship Logistics provides the following information: $$\begin{array} { | l | r | } 
\hline \text { Operating income } & \$ 1,500,000 \
\hline \text { Net sales } & \$ 14,000,000 \
\hline \text { Average total assets } & \$ 2,000,000 \
\hline \text { Management's target rate of return } & 25 \% \
\hline
\end{array}$$ What is the company's asset turnover ratio? (Round your answer to two decimal places.)
A) 4.00
B) 4.48
C) 12.44
D) 7.00

Quizplus · Accepted Answer

The Answer of Flagship Logistics provides the following information: $$\begin{array} { | l | r | } 
\hline \text { Operating income } & \$ 1,500,000 \
\hline \text { Net sales } & \$ 14,000,000 \
\hline \text { Average total assets } & \$ 2,000,000 \
\hline \text { Management's target rate of return } & 25 \% \
\hline
\end{array}$$ What is the company's asset turnover ratio? (Round your answer to two decimal places.)
A) 4.00
B) 4.48
C) 12.44
D) 7.00

Flagship Logistics Provides the Following Information What Is the Company's Asset Turnover Ratio? (Round Your Answer