Turner's Store had a profit margin of 6.8 percent, sales of $498,200, and total assets of $542,000.If management set a goal of increasing the total asset turnover to 1.10 times, what would the new sales figure need to be, assuming no increase in total assets?
A)$467,185
B)$492,727
C)$488,500
D)$596,200
E)$657,480

Question

Quizplus · Accepted Answer

To achieve a total asset turnover of 1.10 times with total assets of $542,000, the sales need to be $542,000 * 1.10 = $596,200.

Turner's Store Had a Profit Margin of 6