Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable$80,000 $72,000 Inventory 84,000 70,000 Net sales 400,000 372,000 Cost of goods sold 254,000 216,000 Total assets 850,000 810,000 Total stockholders' equity 500,000 450,000 Net income 75,000 56,000 TPX Company's 2021 asset turnover is: (Round your answer to 1 decimal place.)
A. 3.7 times.
B. 0.5 times.
C. 2.8 times.
D. 2.2 times.
Answer: B
You might also like to view...
What are two examples of internal noise and two examples of external noise that can damage a listener’s competency at work?
What will be an ideal response?
After quite a few beers, Edward turns to his buddy Rudy and says, I'll give you my brand new Corvette if you will drive me home." Rudy drives Edward home and then asks for the title and keys. Edward refuses. Does Rudy own the Corvette?
a. Yes, because this was a unilateral contract and Rudy performed. b. No, because Edward did not have the intention to make an offer. c. No, because the offer did not have definite terms. d. Yes, because there was a meeting of the minds.
An organization's goals focus on the end results the organization seeks.
Answer the following statement true (T) or false (F)
The number of firms a company must face, the relative size of these firms, and the degree of interdependence within the industry are all part of its _____ environment.
A. demographic B. economic C. political D. competitive E. social