Maple Corp

question 8

Multiple Choice

Maple Corp. had net sales of $204,550 for the year ended December 31, 2017. Its beginning and ending total assets were $83,200 and $116,500, respectively. Determine Maple's asset turnover ratio for the year ended December 31, 2017. (Round your answer to two decimal places.)

• A) 0.49 times
• B) 2.46 times
• C) 1.16 times
• D) 2.05 times

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Definitions:

Income Taxes

Taxes that individuals or entities are required to pay to a government, based on income earned over a fiscal period; these taxes vary by country and the details of the taxpayer's income situation.

Working Capital

The difference between a company's current assets and its current liabilities, indicating the short-term liquidity of the business.

Income Tax Rate

The proportion of earnings handed over to the government as tax.

After-Tax Discount Rate

The discount rate that takes into account the effect of taxes on the net income from an investment.