Guttery Corporation has provided the following financial data from its balance sheet: Sales on account in Year 2 totaled $1,450,000 and cost of goods sold totaled $900,000. The company's total asset turnover for Year 2 is closest to:
A)1.17
B)11.04
C)0.09
D)0.85

Question

Guttery Corporation has provided the following financial data from its balance sheet:  Sales on account in Year 2 totaled $1,450,000 and cost of goods sold totaled $900,000. The company's total asset turnover for Year 2 is closest to:
A)1.17 
B)11.04 
C)0.09 
D)0.85

Quizplus · Accepted Answer

The Answer of Guttery Corporation has provided the following financial data from its balance sheet:  Sales on account in Year 2 totaled $1,450,000 and cost of goods sold totaled $900,000. The company's total asset turnover for Year 2 is closest to:
A)1.17 
B)11.04 
C)0.09 
D)0.85

Guttery Corporation Has Provided the Following Financial Data from Its