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Determine the minden co total asset turnover ratio

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Question - Minden Co. has current assets of $180,000 (cash, $20,000; accounts receivable, $70,000; inventory, $90,000), and long-term assets that had cost $400,000, with amortization to date of $180,000. Sales were $500,000, and operating profit was $50,000.  Tax was $20,000 and interest paid was $10,000. Determine the Minden Co. total asset turnover ratio?

a. 3.3 times

b. 1.5 times

c. 1 time

d. 2.3 times

e. 1.25 times

Reference no: EM133112043

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