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6. Mike Company reported beginning and ending total assets of $300,000 and $320,000, respectively. Its...

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6. Mike Company reported beginning and ending total assets of $300,000 and $320,000, respectively. Its net sales for the year was $387,500. What was Mike's asset tumover ratio? Begin by selecting the formula to calculate the company's asset turnover ratio. Then enter the amounts and calculate the ratio. (Round the asset tumover ratio to two decimal places, X.XX.) Asset turnover ratio

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