Roberts Logistics Provides the Following Information What Is the Company's Asset Turnover Ratio? (Round Your Answer

question 123

Multiple Choice

Roberts Logistics provides the following information: $$\begin{array} { | l | r | } \hline \text { Operating income } & \$ 1,500,000 \\\hline \text { Net sales } & \$ 14,000,000 \\\hline \text { Average total assets } & \$ 2,000,000 \\\hline \text { Management's target rate of return } & 25 \% \\\hline\end{array}$$ What is the company's asset turnover ratio? (Round your answer to two decimal places. )

• A)4.00
• B)4.48
• C)12.44
• D)7.00

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Definitions:

Identical Twins

Twins who originate from a single fertilized egg that splits into two, sharing 100% of their genetic material.

Single Egg Cell

The female gamete or ovum, which, when fertilized by a sperm, results in the development of an embryo.

Single Sperm Cell

A male reproductive cell that is capable of fertilizing an ovum, contributing to sexual reproduction.

Environmental Conditions

External factors that affect living organisms, including natural elements like climate and human-made changes.