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Problem 1: During 2021, Sheffield Corporation reported net sales of $2700000, net income of $1215000, and depreciation expense of $99400. Sheffield also reported beginning total assets of $1006000, ending total assets of $1494000, plant assets of $802000, and accumulated depreciation of $513000. Sheffield's asset turnover is
Option 1: 2.16 times.
Option 2: 1.81 times.
Option 3: 2.68 times.
Option 4: 0.72 time
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