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Compute asset turnover to the nearest hundredth percent

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Problem 1: Use the following selected balance sheet and income statement information for Stevens Co. to compute asset turnover, to the nearest hundredth of a percent.

Operating profit before tax = $120,000
Earnings without interest expense (EWI) = $192,500
Average total assets = 653,000
Sales = $1250000
Tax rate on operating profit = 35%

Reference no: EM132858952

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