Barker,Inc The Company's Beginning Total Assets and Liabilities Were $14,300,000 and 31,2019

question 103

Multiple Choice

Barker,Inc.had reported the following details for the year ended December 31,2019: $$\begin{array} { | l | r | } \hline \text { Net sales } & \$ 24,950,000 \\\hline \text { Total assets } & 16,900,000 \\\hline \text { Total liabilities } & 9,900,000 \\\hline\end{array}$$ The company's beginning total assets and liabilities were $14,300,000 and $9,100,000,respectively.Calculate the asset turnover ratio for 2019.(Round your answer to two decimal places.)

• A) 2.06 times
• B) 1.21 times
• C) 1.55 times
• D) 1.60 times

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