Maple Corp. had net sales of $201,550 for the year ended December 31, 2017. Its beginning and ending total assets were $88,200 and $112,500, respectively. Determine Maple's asset turnover ratio for the year ended December 31, 2017
A) 0.5 times
B) 2.29 times
C) 1.11 times
D) 2.01 times
D .Asset turnover ratio = Net sales / Average total assets
Asset turnover ratio = $201,550 / [($88,200 + $112,500 ) / 2] = 2.01 times (rounded)
Business
You might also like to view...
A buyer's broker is required to verify square footage reported by a listing broker.
a. true b. false
Business
A stock-keeping unit (SKU) is an individual item or product that has an identifying code and is held in inventory somewhere along the supply chain
Indicate whether the statement is true or false
Business