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Calculate the asset turnover ratio for 2019

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Reference no: EM132378587

Question

?1. Barker, Inc. had reported the following details for the year ended December? 31, 2019:

Net sales $25,950,000

Total assets 17,800,000

Total liabilities 11,200,000

The? company's beginning total assets and liabilities were $15,300,000 and $9,100,000?, respectively. Calculate the asset turnover ratio for 2019.? (Round your answer to two decimal? places.)

2. Industrial Equipment Supply is a new business. During its first year of? operations, credit sales were $45,000 and collections of credit sales were $34,000. One? account, $700?, was written off. Management uses the aging-of-receivables method to account for bad debts expense and estimated $575 as uncollectible at year end. The ending balance of the Allowance for Bad Debts is? ________.

Reference no: EM132378587

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