Lake Coffee Company reported net sales of $180,000, net income of $54,000, beginning total assets of $200,000, and ending total assets of $300,000. What was the company's asset turnover ratio a. 0.90 ОБ. 1.39 c. 0.72 O d. 0.20

Lake Coffee Company reported net sales of $180,000, net income of $54,000, beginning total assets of $200,000, and ending total assets of $300,000. What was the company's asset turnover ratio a. 0.90 ОБ. 1.39 c. 0.72 O d. 0.20

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Lake Coffee Company reported net sales of $180,000, net income of $54,000, beginning total assets of
$200,000, and ending total assets of $300,000. What was the company's asset turnover ratio
a.
0.90
1.39
O c. 0.72
O d.
0.20

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