STU Corp. had $36,000,000 in revenues (sales), $12,600,000 in Costs of Goods Sold (COGS), $4,900,000 in...

STU Corp. had $36,000,000 in revenues (sales), $12,600,000 in Costs of Goods Sold (COGS), $4,900,000 in SG&A expenses, $4,700,000 in depreciation expenses, $3,400,000 in interest expenses, and $2,200,000 in tax expenses. The firm held $36,900,000 in total assets, of which $2,000,000 were in cash or equivalent, $4,500,000 were in accounts receivable, and $5,600,000 were in inventories. $23,400,000 of the $36,900,000 in total assets were in shareholder’s equity. What was the firm’s total assets turnover?

Expert Solution

Total Asset Turnover = Sales/Total Assets

Total Asset Turnover = 36,000,000/36,900,000

Total Asset Turnover = 0.9756

jeff jeffy answered 2 years ago

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