Lake Coffee Company reported net sales of $180,000, net income of $54,000, beginning total assets of $200,000,
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Lake Coffee Company reported net sales of $180,000, net income of $54,000, beginning total assets of $200,000, and ending total assets of $300,000. What was the company’s asset turnover ratio?
(a)0.90
(b)0.20
(c)0.72
(d)1.39
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Related Book For
Financial And Managerial Accounting
ISBN: 9781118004234
1st Edition
Authors: Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt
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