T.Powers Company's financial statements on December 31,2015,showed the following:
Net Sales $275,000
Fixed Assets,January 1 $ 73,000
Fixed Assets,December 31 $ 67,000
Total Assets,January 1 $ 97,000
Total Assets,December 31 $100,000
What is the fixed asset turnover for 2015 (rounded to two decimal places)?
A) 3.93
B) 2.60
C) 4.10
D) 2.79

Question

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The Answer of T.Powers Company's financial statements on December 31,2015,showed the following:
Net Sales $275,000
Fixed Assets,January 1 $ 73,000
Fixed Assets,December 31 $ 67,000
Total Assets,January 1 $ 97,000
Total Assets,December 31 $100,000
What is the fixed asset turnover for 2015 (rounded to two decimal places)?
A) 3.93
B) 2.60
C) 4.10
D) 2.79

TPowers Company's Financial Statements on December 31,2015,showed the Following