The Following Data Is from Gauthier Machine Shop Compute Gauthier Machine Shop's Total Asset Turnover Ratio for 2011

question 60

Short Answer

The following data is from Gauthier Machine Shop:
$$\begin{array} { l c c c } & 2011 & 2010 & 2009 \\\text { Total Assets } & \$ 500,000 & \$ 475,000 & \$ 450,000 \\\text { Total Liabilities } & \$ 200,000 & \$ 190,000 & \$ 170,000 \\\text { Total Stockholders' Equity } & \$ 300,000 & \$ 285,000 & \$ 280,000 \\\text { Sales } & \$ 1,000,000 & \$ 900,000 & \$ 820,000 \\\text { Net income } & \$ 140,000 & \$ 120,000 & \$ 110,000\end{array}$$ Compute Gauthier Machine Shop's total asset turnover ratio for 2011 and 2010.

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