For 2017, Sale Company reported beginning total assets of $300,000 and ending total assets of $340,000. Its

Question:

For 2017, Sale Company reported beginning total assets of $300,000 and ending total assets of $340,000. Its net income for this period was $50,000, and its net sales were $400,000. Compute the company’s for 2017.

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.