The balance sheet of Sound Designs reports total assets of $750,000 and $800,000 at the beginning and end of the year, respectively. Sales revenues are $1.5 million ($1.2 million in the previous year), net income is $150,000, and net cash flows from operating activities are $175,000. What is Sound Designs' asset turnover?
A. 2.0 times.
B. 0.5 times.
C. 1.9 times.
D. 1.7 times.
Answer: C
Business
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