Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Use the following selected financial information for Cooler Company to answer the question:

Net sales                                            2,870

Cost of goods sold                            1,985

Gross profit                                          885

Operating expenses                             620

Operating profit                                    265

Interest expense                                      40

Earnings before taxes                            225

Income tax expense                                80

Net profit                                               145

Accounts receivable                                70

Inventory                                                150

Total current assets                                260

Total assets                                             860

Accounts payable                                    85

Total current liabilities                           130

Long-term debt                                      240

Total liabilities                                         370

Total stockholders' equity                      490

Total liabilities and equity                       860

Calculate total asset turnover.

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