Crafty Inc. reported the following financial data. Sales, $180,000; operating expenses $160,000; average operating assets, $150,000; total liabilities, $98,000. The company requires a minimum 12% return on investments. What is the asset turnover ratio?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter3: Evaluation Of Financial Performance
Section: Chapter Questions
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Crafty Inc. reported the following financial data. Sales, $180,000; operating expenses $160,000;
average operating assets, $150,000; total liabilities, $98,000. The company requires a minimum 12%
return on investments. What is the asset turnover ratio?
O.133
O.18
O 1.2
O .111
Transcribed Image Text:Crafty Inc. reported the following financial data. Sales, $180,000; operating expenses $160,000; average operating assets, $150,000; total liabilities, $98,000. The company requires a minimum 12% return on investments. What is the asset turnover ratio? O.133 O.18 O 1.2 O .111
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