Rockport Company reports the following in millions:
net sales of $25,355 for 2014 and $22,340 for 2014; end-of-year total assets of $15,875 for 2014 and $13,860 for 2013.Compute its total asset turnover for 2011 and assess its level if competitors average a total asset turnover of 2.0 times.

Question

Rockport Company reports the following in millions:
 net sales of $25,355 for 2014 and $22,340 for 2014; end-of-year total assets of $15,875 for 2014 and $13,860 for 2013.Compute its total asset turnover for 2011 and assess its level if competitors average a total asset turnover of 2.0 times.

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The Answer of Rockport Company reports the following in millions:
 net sales of $25,355 for 2014 and $22,340 for 2014; end-of-year total assets of $15,875 for 2014 and $13,860 for 2013.Compute its total asset turnover for 2011 and assess its level if competitors average a total asset turnover of 2.0 times.

Rockport Company Reports the Following in Millions