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

question 197

Multiple Choice

Flagship Logistics provides the following information: $$\begin{array} { | l | r | } \hline \text { Operating income } & \$ 1,550,000 \\\hline \text { Net sales } & \$ 15,000,000 \\\hline \text { Average total assets } & \$ 1,950,000 \\\hline \text { Management's target rate of return } & 25 \% \\\hline\end{array}$$ What is the company's asset turnover ratio? (Round your answer to two decimal places.)

• A) 4.29
• B) 4.82
• C) 12.90
• D) 7.69

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Definitions:

α-Pyranose

A form of monosaccharide that adopts a cyclic six-membered ring structure, resembling a pyran, with the anomeric carbon in the alpha configuration.

Haworth Structure

A method for representing cyclic sugars as planar rings with hydroxyl groups positioned above or below the plane.

β-Furanose

A form of a cyclic sugar where the furanose ring has the hydroxyl group at the anomeric carbon in the beta configuration.

α-D-Glucopyranose

An isomer of glucose that is a six-membered oxygen-containing ring (pyranose form), important in biology and nutrition.