Respuesta :
Answer
given,
Net sale = $34,700
Net income = $94
Total assets at the beginning = $24,640
Total asset at the end of the year = $23,300
Average asset =[tex]\dfrac{\$24,640 + \$ 23,300}{2}[/tex]
=[tex]\$ 23,970 }[/tex]
average turnover ratio = [tex]\dfrac{net\ sale}{average\ asset}[/tex]
= [tex]\dfrac{\$ 34,700}{\$ 23970}[/tex]
= 1.447
Return on asset = [tex]\dfrac{net\ income}{average\ asset}\times 100[/tex]
= [tex]\dfrac{\$ 94}{\$ 23970}\times 100[/tex]
= 0.39 %
