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

Question

The following information pertains to Flintridge Corporation:
 $$\begin{array} { l r } 
\text { Profit margin for } 2010 & 10.0 \% \
\text { Total assets, } 12 / 31 / 2009 & \$ 430,000 \
\text { Total assets, } 12 / 31 / 2010 & \$ 470,000 \
\text { Net income, 2010 } & \$ 53,000
\end{array}$$
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:
 $$\begin{array} { l r } 
\text { Profit margin for } 2010 & 10.0 \% \
\text { Total assets, } 12 / 31 / 2009 & \$ 430,000 \
\text { Total assets, } 12 / 31 / 2010 & \$ 470,000 \
\text { Net income, 2010 } & \$ 53,000
\end{array}$$
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