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NNADVOKAT [17]
3 years ago
6

During 2013, Stein Corporation reported net sales of $3,500,000 and net income of$2,100,000. Stein also reported beginning total

assets of $1,000,000 and ending totalassets of $1,500,000. Stein’s asset turnover ratio is______.
a.3.5 times.
b.2.8 times.
c.2.3 times.
d.1.7 times
Business
1 answer:
lana66690 [7]3 years ago
5 0

Answer:

b.2.8 times.

Explanation:

Asset turnover =  net sales/average total assets

From Stein Corporation report,

Net sales = $3,500,000

Beginning total assets = $1,000,000

Ending total assets = $1,500,000

Average total asset = ($1,000,000 + $1,500,000)/2

                                 = $1,250,000

Asset turnover = $3,500,000/$1,250,000

                         = 2.8 times

Option b is right.

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Think about something very important to you that you would like to accomplish 10 years from now. Write a short-term, medium-term
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Well it is different for everyone... but i will give you mine...

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2 years ago
The local baseball team owner hires you to help maximize the team's profits. You are told that costs are constant because enough
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increase price per ticket.

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increase price per ticket in proportion to cost incurred.

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Defend or critique the following statement, using supporting evidence: “Getting to work early on your first day at a new job is
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3 years ago
On November 1 of the current year, Rob Elliot invested $29,750.00 of his cash to form a corporation, GGE Enterprises Inc., in ex
slavikrds [6]

Answer:

1. What is the amount of profit or loss during December?

  • $9,300

2. What were the total expenses for December?

  • $12,950

3. How much was paid for rent?

  • $1,220

Explanation:

we are missing some numbers, so I looked for a similar question. I found one that was almost identical, but the amount of initial paid in capital varied by a little bit. I still used it with the only difference that I used the given common stock, not the common stock that appears in the picture.

Common stock $29,750

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total stockholders' equity = $38,300

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  • $3,550 from December

December's profit = $3,550 (retained earnings) + $5,750 (dividends) = $9,300

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3 0
3 years ago
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