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FrozenT [24]
3 years ago
8

Selected current year company information follows: Net income $ 16,753 Net sales 720,855 Total liabilities, beginning-year 91,93

2 Total liabilities, end-of-year 111,201 Total stockholders' equity, beginning-year 206,935 Total stockholders' equity, end-of-year 133,851 The total asset turnover is: (Do not round intermediate calculations.)
Business
1 answer:
a_sh-v [17]3 years ago
7 0

Answer:

the total asset turnover is 2.65 times

Explanation:

The computation of the  total asset turnover is shown below;

As we know that

Total assets turnover is

= Net sales ÷ average of total assets

= $720,855 ÷ ($91,932 + $206,935 + $111,201 + $133,851) ÷ 2

= $720,855 ÷ $271,959.50

= 2.65 times

Hence, the total asset turnover is 2.65 times

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Answer and Explanation:

The preparation of the vertical analysis is presented below:

Particulars       Amount           %      Amount    %

Sales                 $830,700 100      $634,900 100

Less:

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Less:

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Total Operating

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Income before

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Less:

Income tax expenses $33,500 4.0    $23,400  3.7

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Working note

The percentage is like

= Items value ÷ sales × 100

Like for cost of goods sold

= $529,000 ÷ $830,700 × 100

= 63.68%

It is same applicable for other items also

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