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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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1) true or false :
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1) False

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Answer:

The options are not properly aligned.Find the same question with proper alignment in the attached.

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