Bradford Company had sales of $700,000 for the year. The total assets at the beginning of the year were $240,000, and the total assets at the end of the year were $280,000. The ratio of sales to total assets is (round answer to two decimal places)

Question

Quizplus · Accepted Answer

The ratio of sales to total assets is calculated as Sales divided by Average Total Assets. Average Total Assets = (Beginning Assets + Ending Assets) / 2 = ($240,000 + $280,000) / 2 = $260,000. Therefore, the ratio is $700,000 / $260,000 = 2.69.

Bradford Company Had Sales of $700,000 for the Year