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.