Last year Triangular Resources earned $5 million in net operating income and had an operating profit margin
Question:
Last year Triangular Resources earned $5 million in net operating income and had an operating profit margin of 20 percent. If the firm’s total asset turnover ratio was 1.5, what was the firm’s investment in total assets?
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.
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Triangular Resources information is as follows Net operat...View the full answer
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Related Book For 
Financial Management Principles and Applications
ISBN: 978-0133423822
12th edition
Authors: Sheridan Titman, Arthur Keown, John Martin
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