A Company Had Net Sales of $230,000 for 2010 and $288,000

question 48

Essay

A company had net sales of $230,000 for 2010 and $288,000 for 2011. The company's average total assets for 2010 were $150,000 and $180,000 for 2011. Calculate the total asset turnover for each year and comment on the company's efficiency in the use of its assets.

---

Definitions:

Free Labor Ideology

The belief that labor should be conducted freely and characterized by a fair exchange of work for wages, underpinning much of the anti-slavery movement in the United States before the Civil War.

Slave Labor

The coerced labor of enslaved individuals, without pay or personal freedom, used historically in various societies and economies worldwide.

Upper South

A region in the United States characterized by states that were historically part of the Confederacy but had mixed loyalties during the Civil War.

Lower South

Refers to the southernmost states of the U.S., including Alabama, Florida, Georgia, Louisiana, Mississippi, South Carolina, and Texas, known for their deep historical association with slavery and the Confederacy.