Picasso's Paints has net sales of $1,020,000, net income of $74,000, average current assets of $43,000, average fixed assets of $170,000, and average total assets of $213,000. What is Picasso's fixed asset turnover ratio? (Round your final answer to two decimal places.)
A) 6.00
B) 4.79
C) 23.72
D) 0.17
A) 6.00
Explanation: sales/average fixed assets; ex: $1,020,000 / $170,000 = 6.00
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