Using the following data for Renfro Inc. compute its asset turnover. $\begin{array} { l l r }
& \text { Renfro, Inc. } & \
\text { Net Income 2017 } && \$ 123,000 \
\text { Total Assets 12/31/17 } && 2,443,000 \
\text { Total Assets 12/31/16 } && 2,880,000 \
\text { Net Sales 2017 } && 2,135,000
\end{array}$

Question

Using the following data for Renfro Inc. compute its asset turnover. $\begin{array} { l l r } 
& \text { Renfro, Inc. } & \
\text { Net Income 2017 } && \$ 123,000 \
\text { Total Assets 12/31/17 } &&  2,443,000 \
\text { Total Assets 12/31/16 } && 2,880,000 \
\text { Net Sales 2017 } && 2,135,000
\end{array}$

Quizplus · Accepted Answer

The Answer of Using the following data for Renfro Inc. compute its asset turnover. $\begin{array} { l l r } 
& \text { Renfro, Inc. } & \
\text { Net Income 2017 } && \$ 123,000 \
\text { Total Assets 12/31/17 } &&  2,443,000 \
\text { Total Assets 12/31/16 } && 2,880,000 \
\text { Net Sales 2017 } && 2,135,000
\end{array}$

Using the Following Data for Renfro Inc