Using the Following Data for Renfro Inc

question 130

Essay

Using the following data for Renfro Inc. compute its asset turnover. $\begin{array} { l l r } & \text { Renfro, Inc. } & \\\text { Net Income 2017 } && \$ 123,000 \\\text { Total Assets 12/31/17 } && 2,443,000 \\\text { Total Assets 12/31/16 } && 2,880,000 \\\text { Net Sales 2017 } && 2,135,000\end{array}$

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Definitions:

Loanable Funds

The market for lending and borrowing of capital, where the supply comes from savings and the demand comes from borrowers.

Government Deficit

A situation where a government's expenditures exceed its revenues.

Loanable Funds

A term in economics that refers to all the money available for borrowing in the financial markets, determined by the level of savings vs. the demand for borrowing.

NPV

Net Present Value; a calculation used to assess the value of an investment, taking into account the present value of its cash inflow and outflow over time.