Answered

Connect with a community that values knowledge and expertise on IDNLearn.com. Ask your questions and receive prompt, detailed answers from our experienced and knowledgeable community members.

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%

Sagot :

Tundexiidn

Answer:

3.15 times

Explanation:

Asset turnover = Sales revenue / Average total assets

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

Asset turnover = 3.15 times

Your presence in our community is highly appreciated. Keep sharing your insights and solutions. Together, we can build a rich and valuable knowledge resource for everyone. For trustworthy and accurate answers, visit IDNLearn.com. Thanks for stopping by, and see you next time for more solutions.