Benjamin Sports Camp Inc. provides the following data: 2015 2014 Assets Current Assets: Cash and...
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Benjamin Sports Camp Inc. provides the following data: 2015 2014 Assets Current Assets: Cash and Cash Equivalents $29,000 $25,000 Accounts Receivable, Net 31,000 62,000 Merchandise Inventory 53,000 50,000 Total Current Assets $113,000 137,000 Property, Plant, and Equipment, Net 120,000 120,000 Total Assets $233,000 257,000 Net sales $500,000 Cost of Goods Sold (150,000) Gross profit $350,000 Calculate the asset turnover for the year 2015. A) 7.27 times B) 1.22 times C) 1.55 times D) 2.04 times
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