K Grocers' 2016 financial statements show net income of $1,505 million, sales of $225,935 million, and average total assets of $46,982 million.
How much is K Grocers' asset turnover for the year?
A) 0.67
B) 4.81
C) 3.2
D) There is not enough information to calculate the ratio

Question

Quizplus · Accepted Answer

Asset turnover = Sales / Average total assets = $225,935 million / $46,982 million = 4.81

K Grocers' 2016 Financial Statements Show Net Income of $1,505