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
Total liabilities and equity 860
Calculate total asset turnover.
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