The following information pertains to Flintridge Corporation:
$\begin{array}{lr}
\text { Profit margin for } 2010 & 10.0 \% \
\text { Total assets, } 12 / 31 / 2009 & \$ 430,000 \
\text { Total assets, } 12 / 31 / 2010 & \$ 470,000\
\text { Net income } 2010&\$53,000
\end{array}$
Calculate the asset turnover ratio for 2010.Round your answer to two decimal places.

Question

The following information pertains to Flintridge Corporation:
 $\begin{array}{lr}
\text { Profit margin for } 2010 & 10.0 \% \
\text { Total assets, } 12 / 31 / 2009 & \$ 430,000 \
\text { Total assets, } 12 / 31 / 2010 & \$ 470,000\
\text { Net income } 2010&\$53,000
\end{array}$ 
Calculate the asset turnover ratio for 2010.Round your answer to two decimal places.

Quizplus · Accepted Answer

The Answer of The following information pertains to Flintridge Corporation:
 $\begin{array}{lr}
\text { Profit margin for } 2010 & 10.0 \% \
\text { Total assets, } 12 / 31 / 2009 & \$ 430,000 \
\text { Total assets, } 12 / 31 / 2010 & \$ 470,000\
\text { Net income } 2010&\$53,000
\end{array}$ 
Calculate the asset turnover ratio for 2010.Round your answer to two decimal places.

The Following Information Pertains to Flintridge Corporation Calculate the Asset Turnover Ratio for 2010