Kaleb’s Karate Supply had a profit margin of 9 percent, sales of $24.2 million,
ID: 2727899 • Letter: K
Question
Kaleb’s Karate Supply had a profit margin of 9 percent, sales of $24.2 million, and total assets of $8.7 million. Requirement 1: What was the total asset turnover? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Total asset turnover_________ times Requirement 2: If management set a goal of increasing total asset turnover to 3 times, what would the new sales figure need to be, assuming no increase in total assets? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars (e.g., 1,234,567).) Sales $ ______________Explanation / Answer
Asset turnover = Sales / Total assets
= 24.2/8.7 i.e 2.78
New Sales = 8.7*3 i.e 26.10
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.