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3 years ago

Ryngard Corp's sales last year were $38,000, and its total assets were $16,000. What was its total assets turnover ratio (TATO)?

Business

1 answer:

expeople1 [14]3 years ago

3 0

Answer:

Total assets turnover ratio (TATO): 2.38

Explanation:

Total assets turnover ratio (TATO) helps investors understand how effectively companies are using their assets to generate sales. Total assets turnover ratio is calculated by using following formula:

Total assets turnover = Total Sales or Revenue/ Average Total Assets

where:

Total Sales= Annual net sales

Average Total Assets = (Assets at the beginning of year +Assets at the end of year )/2

In Ryngard Corp:

Total Sales: $38,000

Total assets: $16,000

Total assets turnover = $38,000/$16,000 = 2.38

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