During 2022, Ronald Corporation Reported Net Sales of $2,000,000, Net

question 61

Multiple Choice

During 2022, Ronald Corporation reported net sales of $2,000,000, net income of $900,000, and depreciation expense of $100,000.Ronald also reported beginning total assets of $1,000,000, ending total assets of $1,500,000, plant assets of $800,000, and accumulated depreciation of $500,000.Ronald's asset turnover is

• A)2.0 times.
• B)1.6 times.
• C)1.33 times.
• D)0.72 times.

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