Answer:
2.09
Explanation:
Asset ratio is a business tool used to measure the efficiency of assets towards sales generation by comparing net sales to average total assets.
It is calculated by dividing the net sales by average total assets.
The average total assets is used in order to make allowance for fluctuation in the course of business year
Workings
Net sales = $217550
Opening total asset = $94200
Closing Total assets = $ 113500
Asset ratio turnover = 217550/(94200+113500)/2
=2.09
