Long-term liabilities Common stock 70,000 80,000 Retained earnings 55,000 Total liabilities and stockholders' equity $250,000 Sales...

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Long-term liabilities Common stock 70,000 80,000 Retained earnings 55,000 Total liabilities and stockholders' equity $250,000 Sales Cost of goods sold Gross margin Operating expenses Interest expense < Net income Income Statement $85,000 45,000 $40,000 (15,000) (5,000) $20,000 Number of shares of common stock outstanding 6,000 Market price of common stock $20 Total dividends paid $9,000 Cash provided by operations $30,000 What is the asset turnover for Diane Company? a. 2.94 b. 1.00 c. c. 0.34 Od. 0.18 Long-term liabilities Common stock 70,000 80,000 Retained earnings 55,000 Total liabilities and stockholders' equity $250,000 Sales Cost of goods sold Gross margin Operating expenses Interest expense < Net income Income Statement $85,000 45,000 $40,000 (15,000) (5,000) $20,000 Number of shares of common stock outstanding 6,000 Market price of common stock $20 Total dividends paid $9,000 Cash provided by operations $30,000 What is the asset turnover for Diane Company? a. 2.94 b. 1.00 c. c. 0.34 Od. 0.18

Answer rating: 100% (QA)

To calculate the asset turnover ratio for Diane Company we use the ... View the full answer