Roberts Logistics provides the following information: Operating income $ 1 comma 600 comma 000 Net sales...
Roberts Logistics provides the following information: Operating income $ 1 comma 600 comma 000 Net sales $ 13 comma 500 comma 000 Average total assets $ 1 comma 850 comma 000 Management's target rate of return 30% What is the company's asset turnover ratio? (Round your answer to two decimal places.)
A.
3.913.91
B.
7.307.30
C.
12.0512.05
D.
4.55
Homework Answers
Assets turnover ratio = Net sales / Average total assets
= $13,500, 000 / 1,850,000
= 7.30 times
Option B. is correct answer.
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