Consider the following financial data for Steves Home Accessories:

Statement of Financial Position as of December 31, 2012

Cash	$	74,000		Accounts payable	$	124,500
Receivables		181,500		Short-term bank note		131,000
Inventories		216,000		Accrued wages and taxes		99,500
Total current assets	$	471,500		Total short-term liab.	$	355,000
				Long-term debt		484,000
Net fixed assets		604,500		Common equity		237,000
Total assets	$	1,076,000		Total liabilities & equity	$	1,076,000

Profit & Loss Statement for the Year Ended December 31, 2012

Net sales	$	636,500
Cost of goods sold		426,500
Gross profit	$	210,000
Operating expenses		123,500
Earnings before interest and taxes (EBIT)	$	86,500
Interest expense		74,000
Earnings before taxes (EBT)	$	12,500
Federal and state income taxes (30 percent)		3,750
Net profit	$	8,750

Calculate Steves total asset turnover.

	a.	2.95
	b.	1.49
	c.	0.81
	d.	0.59
	e.	4.05