Rockport Company reports the following in millions: net sales of $25,355 for 2011 and $22,340 for 2010; end-of-year total assets of $15,875 for 2011 and $13,860 for 2010. Compute its total asset turnover for 2011 and assess its level if competitors average a total asset turnover of 2.0 times.

Question

Quizplus · Accepted Answer

The Answer of Rockport Company reports the following in millions: net sales of $25,355 for 2011 and $22,340 for 2010; end-of-year total assets of $15,875 for 2011 and $13,860 for 2010. Compute its total asset turnover for 2011 and assess its level if competitors average a total asset turnover of 2.0 times.

Rockport Company Reports the Following in Millions: Net Sales of $25,355