Kitty-Lion Company has net sales of $960,000, net income of $75,000, average current assets of $45,000, average fixed assets of $168,000, and average total assets of $210,000. What is Kitty-Lion's total asset turnover ratio? (Round your final answer to two decimal places.)
A) 0.22
B) 4.57
C) 5.71
D) 12.80
B) 4.57
Explanation: sales/average total assets; ex: $960,000 / $210,000 = 4.57
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