A Total Asset Turnover Ratio of 3

A total asset turnover ratio of 3.5 indicates that:

A) For every $1 in sales, the firm acquired $3.50 in assets during the year.
B) For every $1 in assets, the firm earned gross profit of $3.50 during the year.
C) For every $1 in assets, the firm produced $3.50 in net sales during the year.
D) For every $1 in assets, the firm paid $3.50 in dividends per share.
E) For every $1 in assets, the firm earned $3.50 in earnings per share.