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

question 100

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.