You are given the following financial data for Company A: 

Cash = $6,000; 

inventories = $1,000; 

accounts receivable = $700; 

other current assets = $500; 

long-term assets = $1,000; 

accounts payable = $800; 

other current liabilities = $4000; 

net income = $1,200; 

total income = $8,000; 

EBIT = $3,000 and 

interest expense = $600. 

The total asset turnover ratio is?

Answer rating: 100% (QA)

The total asset turnover ratio is calculated by dividing the total income by the tota... View the full answer