Balani, Inc. had net sales of $52,000,000 for the year ended May 31, 2016. Its beginning and

Question:

Balani, Inc. had net sales of $52,000,000 for the year ended May 31, 2016. Its beginning and ending total assets were $53,200,000 and $98,400,000, respectively. Determine Balani s ratio for year ended May 31, 2016.
Asset Turnover
Asset turnover is sales divided by total assets. Important for comparison over time and to other companies of the same industry. This is a standard business ratio.