Runyon inc reported the following results from last years op

Runyon inc reported the following results from last year\'s operations: 13 Sales Variable expenses Contribution margin $16,800, 000 12, 230, 000 4, 570, 00e 3, 394, 000 Fixed expenses Net operating income 1,176,000 The company\'s average operating assets were $7,000,000. Last year\'s turnover was closest to Multiple Choice

Solution

Answer : 2.40

=> Operating Assets Turnover = Sales / Average operating assets = 16800000 / 7000000 = 2.40