Selected data from the 2015 financial statements of KRJ Manufacturing are presented below. Calculate the...
50.1K
Verified Solution
Link Copied!
Question
Accounting
Selected data from the 2015 financial statements of KRJ Manufacturing are presented below. Calculate the total asset turnover for the year, rounded to two decimal places. e.g. 20.00.
Sales $109,663
Gross profits $94,084
Operating profits (EBIT) $34,571
Earnings before taxes (EBT) $27,189
Net profits $17,467
Tax expense 9,549
Depreciation expense $14,702
Total assets, Dec. 31, 2014 $82,905
Total assets, Dec. 31, 2015 $83,331
Total equity, Dec. 31, 2014 $46,228
Total equity, Dec. 31, 2015 $49,950
Cash flow from operations $33,951
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.