Refer to the financial statements of Black Barn Company. The firm's asset turnover ratio for 2009 is
The financial statements of Black Barn Company are given below.
Note: The common shares are trading in the stock market for $40 each.
A. 1.79.
B. 1.63.
C. 1.34.
D. 2.58.
E. None of the options are correct.
C. 1.34.
$8,000,000/[($6,440,000 + $5,500,000)/2] = 1.34.
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