The following information pertains to Flintridge Corporation:
Profit margin for 2010$\quad\quad\quad\quad\quad10.0\%$
Total assets, $ 12 / 31 / 2009 \quad\quad\quad\$ 430,000$
Total asssets, $ 12 / 31 / 2010 \quad\quad\quad\$ 470,000$
Net income 2010 $\quad\quad\quad\quad\quad\quad\quad\$ 53,000$ Calculate the asset turnover ratio for 2010. Round your answer to two decimal places.

Question

The following information pertains to Flintridge Corporation:
 Profit margin for 2010$\quad\quad\quad\quad\quad10.0\%$ 
Total assets, $ 12 / 31 / 2009 \quad\quad\quad\$ 430,000$
Total asssets, $ 12 / 31 / 2010 \quad\quad\quad\$ 470,000$
Net income 2010 $\quad\quad\quad\quad\quad\quad\quad\$ 53,000$ 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:
 Profit margin for 2010$\quad\quad\quad\quad\quad10.0\%$ 
Total assets, $ 12 / 31 / 2009 \quad\quad\quad\$ 430,000$
Total asssets, $ 12 / 31 / 2010 \quad\quad\quad\$ 470,000$
Net income 2010 $\quad\quad\quad\quad\quad\quad\quad\$ 53,000$ Calculate the asset turnover ratio for 2010. Round your answer to two decimal places.

The Following Information Pertains to Flintridge Corporation: Profit Margin 10.0%\quad\quad\quad\quad\quad10.0\%10.0%

The Following Information Pertains to Flintridge Corporation:
Profit Margin $\quad\quad\quad\quad\quad10.0\%$