A Company Reports the Following $$\begin{array} { l r } \text { Sales } & \$ 2,400,000 \\\text { Average total assets (excluding long-term investments) } & 1,500,000\end{array}$$

question 53

Essay

A company reports the following: $$\begin{array} { l r } \text { Sales } & \$ 2,400,000 \\\text { Average total assets (excluding long-term investments) } & 1,500,000\end{array}$$ ​
Determine the asset turnover ratio. Round your answer to one decimal place.

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Definitions:

Plant Foods

Edible parts of plants, including fruits, vegetables, grains, nuts, and seeds, that are consumed by humans and other herbivores.

Detritus-Feeders

Organisms that feed on dead organic material, contributing to decomposition and nutrient cycling.

Fungi

Eukaryotic saprotrophic decomposer; the body is made up of filaments called hyphae that form a mass called a mycelium.

Bacteria

Microscopic, single-celled organisms found in nearly every environment on Earth, some of which are beneficial while others can cause diseases.