A firm’s Total Assets is $4,000,000 and its Total Asset Turnover is 0.25. This firm’s Sales...

A firm’s Total Assets is $4,000,000 and its Total Asset Turnover is 0.25. This firm’s Sales equals:

	a.	$250,000
	b.	$1,000,000
	c.	$16,000,000
	d.	$40,000,000

Expert Solution

Asset turnover ratio = net sales ÷ average total assets

0.25= net sales ÷ 4000000

Net sales = 1000000

jeff jeffy answered 3 years ago

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