The Balance Sheet of Tech Track Reports Total Assets of $400,000

question 20

Multiple Choice

The balance sheet of Tech Track reports total assets of $400,000 and $500,000 at the beginning and end of the year, respectively. Sales revenues are $1.1 million ($0.8 million in the previous year) , net income is $40,000, and net cash flows from operating activities are $50,000. How does Tech Track's asset turnover compare to the industry average of 2.4 times?

• A) Better.
• B) Worse.
• C) Same as.
• D) Cannot be determined with the data provideD.

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Definitions:

Roller Bearings

Bearings that use cylindrical rollers to maintain the separation between moving parts of a bearing, reducing friction and supporting radial and axial loads.

Cylindrical

Relating to the surface or shape of a cylinder, which is a solid geometric figure with straight parallel sides and a circular or oval cross section.

Spherical

Having the shape of a sphere; relating to or resembling a ball or globe.

Antifriction Bearings

Bearings designed to reduce friction between moving parts while supporting radial and axial loads, often using balls or rollers.