Mehring Company Reported Net Sales of $540000 Net Income of $72000

question 262

Multiple Choice

Mehring Company reported net sales of $540000 net income of $72000 beginning total assets of $240000 and ending total assets of $360000. What was the company's asset turnover?

• A) 2.3 times
• B) 0.6 times
• C) 1.8 times
• D) 1.5 times

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Definitions:

Pulmonary Vein

A vein that carries oxygenated blood from the lungs to the left atrium of the heart.

Inferior Vena Cava

A large vein that carries deoxygenated blood from the lower and middle body into the right atrium of the heart.

Radial Veins

Veins located on the lateral side of the forearm, responsible for draining blood from the hand and forearm back towards the heart.

Ulnar Veins

Veins located along the ulna bone in the forearm, responsible for draining blood from the hand and forearm back toward the heart.