Chevron Corporation's audited financial statements for the year ended December 31, 2019, included the following information:...

Chevron Corporation's audited financial statements for the year ended December 31, 2019, included the following information: sales were $150 billion, the cost of goods sold was $130 billion, total assets were $100 billion and 50% of the company's assets were financed with debt. What was Chevron's total asset turnover in 2019? Please show work.

Expert Solution

Total asset turnover = sales/average total assets

= 150billion /100billion = 15

As previous year total asset is not given we just take this year assets

Note : with the information provided in the question only this solution is possible

Make sure all information is provided in question

jeff jeffy answered 2 years ago

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