ABC Limited has a net income of $40,000,000 and a profit margin of 10%. Total asset turnover

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ABC Limited has a net income of $40,000,000 and a profit margin of 10%. Total asset turnover is 25% and the current ratio is 3, while the amount of current liabilities is $72,000,000. Calculate the amount of fixed assets. Show your work.

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Accounting Information For Business Decisions

ISBN: 9780170253703

2nd Edition

Authors: Billie Cunningham, Loren A. Nikolai, John Bazley, Marie Kavanagh, Geoff Slaughter, Sharelle Simmons

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Posted Date: Apr 17, 2024 06:48 AM

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ABC Limited has a net income of $40,000,000 and a profit margin of 10%. Total asset turnover

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To calculate the amount of fixed assets we can use the formula for Total Assets Turnover ... View the full answer

Accounting Information For Business Decisions

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