Question

Minden Co has current assets of $180,000 (cash: $20,000, accounts receivable: $70,000, inventory: $90,000), and long-term assets that had cost $400,000, with accumulated depreciation to date of $180,000. Sales were $500,000, and operating profit was $50,000. Tax was $20,00 and interest paid was $10,000. Their total asset turnover ratio is:

A) 1.00X;
B) 1.25X;
C) 1.500X;
D) 2.3X;
E) none of the above
​

Answer 1

Explanation:

8fijfdyddyufjfiguffufufujffigijfjfxh