Company X Has Net Sales Revenue of $1,250,000,cost of Goods

question 3

Multiple Choice

Company X has net sales revenue of $1,250,000,cost of goods sold of $760,000,and all other expenses of $290,000.The beginning balance of stockholders' equity is $400,000 and the beginning balance of fixed assets is $361,000.The ending balance of stockholders' equity is $600,000 and the ending balance of fixed assets is $389,000.The fixed asset turnover ratio is closest to:

• A) 0.53.
• B) 2.50.
• C) 3.33.
• D) 0.80.

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