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

question 101

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 shareholders' equity is $400,000 and the beginning balance of fixed assets is $361,000.The ending balance of shareholders' equity is $600,000 and the ending balance of fixed assets is $389,000.What is the fixed asset turnover ratio?

• A)0.53
• B)2.50
• C)3.33
• D)0.80

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