Price Printing Co

question 15

Multiple Choice

Price Printing Co. had sales of $10 million, operating income of $3 million, after-tax income of $1 million, assets of $8 million, stockholders' equity of $5 million, and a total debt of $3 million. What is Price Printing Company's asset turnover?

• A).50x
• B)1.25x
• C)2.50x
• D)3.33x
• E).80x

---

Definitions:

Federal Government Revenue

The income the federal government receives from taxes, fees, and earnings from its investments, used to fund public services and obligations.

Corporate Income Taxes

Taxes imposed on the income of corporations, which are calculated based on the profits these firms generate.

Property Taxes

Taxes levied by local governments based on the value of real estate property owned by individuals or businesses.

Payroll Taxes

Taxes imposed on employers and employees, calculated as a percentage of the salaries that employers pay their staff.