Dodgers Company's beginning and ending total assets in the year 2019 were $19,700,000 and $22,300,000, respectively. Its asset turnover ratio for the year was calculated to be 1.9 times. Calculate the amount of net sales for the year 2019.
A) $25,940,000
B) $43,300,000
C) $39,900,000
D) $57,500,000
C) $39,900,000
Explanation: Asset turnover ratio = Net sales / Average total assets
Net sales = Asset turnover ratio × Average total assets
Average total assets = ($19,700,000 + $22,300,000) / 2 = 21,000,000
Net sales = 1.9 × 21,000,000 = 39,900,000
You might also like to view...
Cluster sampling and stratified sampling differ in all of the following ways except ________
A) the number of subpopulations chosen B) their objectives C) classification of sampling techniques D) with respect to homogeneity and heterogeneity
Which value frame refers to the organization's position and practices related to the fair exchange of economic goods and services
a. Equity b. Exclusion c. Fair trade d. Inclusion
Blanche works as a respected senior engineer for a large manufacturer of pharmaceutical process equipment. Several researchers within the company have discovered an innovative way to repackage pharmaceutical drugs. The company has given Blanche the opportunity and responsibility to lead a fully funded project team for 12 months to develop this idea. She is excited to lead this ________ team.
A. skunkworks B. venture capital C. spin-off D. social capital E. bootlegging
________ ensure that money lent under a line of credit agreement is actually being used to finance seasonal needs
A) Operating-change restrictions B) Annual cleanups C) Compensating balances D) Commitment fees