The balance sheet of Tech Track reports total assets of $400,000 and $500,000 at the beginning and end of the year,respectively.Sales revenues are $1,080,000($800,000 in the previous year),net income is $40,000,and net cash flows from operating activities are $50,000.How does Tech Track's asset turnover compare to the industry average of 2.4 times?
A) Better.
B) Worse.
C) Same as.
D) Cannot be determined with the data provided.

Question

The balance sheet of Tech Track reports total assets of $400,000 and $500,000 at the beginning and end of the year,respectively.Sales revenues are $1,080,000($800,000 in the previous year),net income is $40,000,and net cash flows from operating activities are $50,000.How does Tech Track's asset turnover compare to the industry average of 2.4 times?
A)	Better.
B)	Worse.
C)	Same as.
D)	Cannot be determined with the data provided.

Quizplus · Accepted Answer

The Answer of The balance sheet of Tech Track reports total assets of $400,000 and $500,000 at the beginning and end of the year,respectively.Sales revenues are $1,080,000($800,000 in the previous year),net income is $40,000,and net cash flows from operating activities are $50,000.How does Tech Track's asset turnover compare to the industry average of 2.4 times?
A)	Better.
B)	Worse.
C)	Same as.
D)	Cannot be determined with the data provided.

The Balance Sheet of Tech Track Reports Total Assets of $400,000