Need to compute an Asset Turnover Ratio using an Excel Spreadsheet. Attached are

Question

Need to compute an Asset Turnover Ratio using an Excel Spreadsheet. Attached are the Income Statements and Balance Sheets, Thanks!!!

TRACTOR SUPPLY COMPANY CONSOLIDATED STATEMENTS OF INCOME (in thousands, except per share amounts) Fiscal Year 2015 2014 2013 S 6,226,507 S 5,711,715 5,164,784 4,083,333 3,761,300 3.411,175 1,753,609 1,369,097 1246,308 1,138,934 100,025 514,650 557 514,093 185,859 S 410,395 S 370,885 S 328,234 2.35 2.32 Net sales Cost ofmerchandise sold Gross profit 2,143,174 1,950,415 Selling, general and administrative expenses 123,569 650,508 2,891 647,617 237,222 114,635 589,472 1,885 587,587 216,702 Depreciation and amortization Operating income Interest expense, net Income beforeincome taxes Income tax expense Net income Net income per share -basi

Explanation / Answer

ANS:-

It is not possible to attach an excel sheet here.

even without using excel you can arrive this formula very easily.

assets turnover ratio = Net sales/average total assets

As information provided here is for year 2015,alculations as follows:-

net sales for the year 2015 = $6,226,507

average total assets =( assets @ the begining + assets @ the end of the year)/2

=2,034,571 + 2,370,826 / 2

=$2,202,698.5

assets turnover ratio = Net sales/average total assets

=$6,226,507/$2,202,698.5

=2.827 (approx)

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