Burdick Corporation has provided the following financial data from its balance sheet: Sales (all on account) in Year 2 amounted to $1,410,000 and the cost of goods sold was $860,000. The company's total asset turnover for Year 2 is closest to:
A)0.99
B)0.19
C)5.32
D)1.01

Question

Burdick Corporation has provided the following financial data from its balance sheet:  Sales (all on account) in Year 2 amounted to $1,410,000 and the cost of goods sold was $860,000. The company's total asset turnover for Year 2 is closest to:
A)0.99 
B)0.19 
C)5.32 
D)1.01

Quizplus · Accepted Answer

The Answer of Burdick Corporation has provided the following financial data from its balance sheet:  Sales (all on account) in Year 2 amounted to $1,410,000 and the cost of goods sold was $860,000. The company's total asset turnover for Year 2 is closest to:
A)0.99 
B)0.19 
C)5.32 
D)1.01

Burdick Corporation Has Provided the Following Financial Data from Its