Please Help! I am confused on what I am calculating for Total Asset Turnover. Please...
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Please Help! I am confused on what I am calculating for Total Asset Turnover. Please explain and show work.End of the year, The Vulcan Community Hospital's some part of the balance sheet and some part of the income statement is provided below. Based on theprovided information, What is the hospital's Total Asset Turnover? Note: A fiscal year is 365 days. Some Accounts From The Balance Sheet Some Accounts From The Income Statement Current Assets Revenues Cash $ 569,000.00 Net Patient Services Revenue $400,000.00 Accounts Receivable,Net $ 185,000.00 Other Operating Revenue $ - Inventory $ 95,000.00 Total Reveneues from Operations $400,000.00 Prepaid Expense $ 5,000.00 Operating Expenses Total Current Assets $ 854,000.00 Salaries and Benefits $ 18,000.00 Liabilities & Net Assets $ 1,514,000.00 Medical Supplies and Drugs $100,000.00 Current liabilities Insurance $ 36,000.00 Accounts Payable $ 320,000.00 Depreciation $ 40,000.00 Wages Payable $ 13,000.00 Interest $ 75,000.00 Total Current Liabilities $ 333,000.00 Provision for Bad Debts $ 40,000.00 Unrestricted Contributions $ -
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