Mehring Company Reported Net Sales of $540,000, Net Income of $72,000

question 53

Multiple Choice

Mehring Company reported net sales of $540,000, net income of $72,000, beginning total assets of $240,000, and ending total assets of $360,000.What was the company's asset turnover?

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