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Natalija [7]
2 years ago
11

Use the following selected balance sheet and income statement information for Caroline Supply Co. (in millions) to compute asset

turnover (AT) to the nearest hundredth of a percent.
Operating profit before tax Earnings without interest expense (EWI) Average total assets Sales Tax rate on operating profit
$58,300 $93,400 $360,600 $1,135,420 35%
Business
1 answer:
lidiya [134]2 years ago
7 0

Answer:

3.15 times

Explanation:

Asset turnover = Sales revenue / Average total assets

Asset turnover = $1,135,420 / $360,600

Asset turnover = 3.15 times

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