In 2011, a company had revenues of $29,700, beginning total assets of $26,000, and ending total assets

Question:

In 2011, a company had revenues of $29,700, beginning total assets of $26,000, and ending total assets of $28,000. Calculate the company’s asset turnover ratio for 2011.

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.