At the beginning of the year, Rodriguez Company had total assets of $900,000 and at the end of the year, its total assets were $1,100,000. Rodriguez's net sales for the year were $1,850,000 and its net income was $55,000.
Rodriguez's asset turnover ratio for the year is:
A) 0.055
B) 0.050
C) 0.065
D) 1.850
E) None of the above
Correct Answer:
Verified
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