At January 1, 2019, Bakas Company had total assets of $5,400,000 and at December 31, 2019, its total assets were $6,600,000. Markus's net sales for 2019 were $13,650,000 and its 2019 net income was $360,000.
Bakas's asset turnover ratio for 2019 is:
A) 0.070
B) 0.064
C) 0.078
D) 2.275

Question

Quizplus · Accepted Answer

$13,650,000 / [($5,400,000 + $6,600,000) / 2] = 2.275

At January 1, 2019, Bakas Company Had Total Assets of $5,400,000