The Balance Sheet of Sound Designs Reports Total Assets of $750,000

question 6

Multiple Choice

The balance sheet of Sound Designs reports total assets of $750,000 and $800,000 at the beginning and end of the year,respectively.Sales revenues are $1.5 million ($1.2 million in the previous year) ,net income is $150,000,and net cash flows from operating activities are $175,000.What is Sound Designs' asset turnover?

• A) 2.0 times.
• B) 1.7 times.
• C) 0.5 times.
• D) 1.9 times.

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