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MakcuM [25]
3 years ago
9

Assume the Residential Division of KappyKappy Faucets had the following results last​ year: Net sales revenue $16,320,000 Operat

ing income 6,528,000 Average total assets 5,100,000 Management's target rate of return 16% What is the​ division's asset turnover​ ratio?
Business
1 answer:
Alinara [238K]3 years ago
3 0

Answer:

3.20

Explanation:

The computation of the asset turnover ratio is shown below:

Total asset turnover = (Net Sales revenue ÷ Average Total assets)

                                  = ($16,320,000 ÷ $5,100,000)

                                  = 3.20

It shows a ratio between the net sales revenue and the average total assets.

All other information which is given is not relevant. Hence, ignored it

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