Pineapple Hospitality Inc. experienced $400,000 total revenue in 2009. Last year, its total asset value was $1,435,000....
Pineapple Hospitality Inc. experienced $400,000 total revenue in 2009. Last year, its total asset value was $1,435,000. This figure jumped to $1,765,000 in 2009. What is the total asset turnover ratio in 2009?
Homework Answers
Asset turnover ratio = Revenue/Average total assets
Average total assets = (1,435,000+1,765,000)/2 = 1,600,000
= 400,000/1,600,000
= 0.25
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