Question: Can you solve this general accounting problem with appropriate steps and explanations? In 2023, Zenith Corp. reported sales revenue of $250 million and net income

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

In 2023, Zenith Corp. reported sales revenue of $250 million and net income of $25 million. On January 1, 2023, total assets were $140 million (current assets of $40 million and long-term assets of $100 million). On December 31, 2023, total assets were $160 million (current assets of $50 million and long-term assets of $110 million). What is the asset turnover ratio for the year ended December 31, 2023

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