Maple Company Had Net Sales of $200,550 for the Year

question 58

Multiple Choice

Maple Company had net sales of $200,550 for the year ended December 31, 2015. Its beginning and ending total assets were $75,200 and $110,500, respectively. Determine Maple's asset turnover ratio for the year ended December 31, 2015.

• A)0.46 times
• B)2.67 times
• C)1.18 times
• D)2.16 times

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Definitions:

Investing Activities

Transactions that involve the purchase or sale of long-term assets and other investments, typically reported on a company's cash flow statement.

Cash Dividend

A distribution of a portion of a company's earnings to its shareholders in the form of cash.

Financing Activities

Transactions between a company and its investors or creditors related to equity and debt, including issuing shares and obtaining loans.

Comparative Balance Sheet

A financial statement that presents the financial position of a company at two or more points in time, allowing for comparison and analysis of changes.