In 2014, Bargain shop reported net income of $5.7 billion, net sales of $175 billion, and average total assets of $70 billion. What is Bargain shop's asset turnover ratio?

Name: In 2014, Bargain shop reported net income of $5.7 billion, net sales of $175 billion, and average total assets of $70 billion. What is Bargain shop's asset turnover ratio?
Brand: Quizplus
Rating: 4.8 (48 reviews)

Question

Quizplus · Accepted Answer

Asset turnover ratio = Net sales / Average total assets
Asset turnover ratio = $175 billion / $70 billion
Asset turnover ratio = 2.5 times

In 2014, Bargain Shop Reported Net Income of $5