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What sheffield asset turnover is

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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

Reference no: EM132743805

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