Question: Can you solve this general accounting problem with appropriate steps and explanations? Use the following selected financial data for TechnoWorld Inc. (in millions) to calculate

Can you solve this general accounting problem with appropriate steps and explanations?

Use the following selected financial data for TechnoWorld Inc. (in millions) to calculate the asset turnover ratio to the nearest hundredth. Net Sales: $520,000 Average Total Assets: $160,000 Net Income: $24,500 Gross Profit: $250,000 Tax Rate: 30%

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