The following information (in $ millions) comes from the Annual Report of Saratoga Springs Co. for the year ending 12/31/2018:
Required: Compute the following amounts for Saratoga Springs Co.
-Its asset turnover ratio for 2018. Round your answer to two decimal places.
Definitions:
Mutual Fund
Financial intermediary that pools funds from investors by selling shares of itself and uses the funds to purchase securities.
Financial Institution
An organization that provides financial services to its clients or members, such as banks, credit unions, and insurance companies.
Discount Rate
The interest rate charged by central banks on loans to commercial banks, influencing monetary policy and economic conditions.
Federal Funds Rate
The interest rate at which depository institutions lend reserves to other depository institutions overnight, crucial for monetary policy in the United States.
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