Camden Company reports the following ($ 000s): net sales of $14,880 for 2011 and $13,990 for 2010;

Question:

Camden Company reports the following ($ 000s): net sales of $14,880 for 2011 and $13,990 for 2010; end-of-year total assets of $15,869 for 2011 and $17,819 for 2010. Compute its total for 2011, and assess its level if competitors average a total of 2.0 times.
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.