During 2014, Ronald Corporation Reported Net Sales of $1,500,000, Net

question 185

Multiple Choice

During 2014, Ronald Corporation reported net sales of $1,500,000, 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 ratio is

• A) 1.5 times.
• B) 1.2 times.
• C) 0.98 times.
• D) 0.72 times.

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Definitions:

Clip Art

Pre-made images or illustrations that can be used for various purposes, including in documents or presentations to enhance visual appeal.

Copyrighted

The legal right granted to the creator of an original work exclusive rights to its use and distribution, usually for a limited time, with the aim of enabling the creator to receive compensation for their intellectual property.

Aesthetic Appeal

The quality of being visually pleasing or beautiful in appearance.

Cross-hatching

A drawing technique used to create shading and texture by overlapping parallel lines at various angles.