A Company Had Net Sales of $1,540,500 in 2015 and $1,495,000

question 117

Essay

A company had net sales of $1,540,500 in 2015 and $1,495,000 in 2016. Its average assets were
$810,000 for 2015 and $800,000 for 2016. (1) Calculate the total asset turnover for each year. (2) Interpret and comment on the company's efficiency in the use of its assets.

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Definitions:

Visual Stimulus

Any external object or event that is seen and which can influence a person's behavior or emotions.

Crystallized Intelligence

The ability to utilize acquired knowledge and experience.

Vocabulary

The set of words within a language that are familiar to an individual.

Mental Flexibility

The capacity to adjust one's thinking or approach in response to changing environments or situations.