Burdick Corporation has provided the following financial data from its balance sheet: Sales (all on account) in Year 2 amounted to $1,410,000 and the cost of goods sold was $860,000.The company's total asset turnover for Year 2 is closest to:
A) 0.99
B) 0.19
C) 5.32
D) 1.01

Question

Burdick Corporation has provided the following financial data from its balance sheet:  Sales (all on account) in Year 2 amounted to $1,410,000 and the cost of goods sold was $860,000.The company's total asset turnover for Year 2 is closest to:
A) 0.99 
B) 0.19 
C) 5.32 
D) 1.01

Quizplus · Accepted Answer

The Answer of Burdick Corporation has provided the following financial data from its balance sheet:  Sales (all on account) in Year 2 amounted to $1,410,000 and the cost of goods sold was $860,000.The company's total asset turnover for Year 2 is closest to:
A) 0.99 
B) 0.19 
C) 5.32 
D) 1.01

Burdick Corporation Has Provided the Following Financial Data from Its