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Maggins Inc. gives you the following information pertaining to the year 2020:
Net sales$880,000
Cost of goods sold550,000
Current assets525,000
Current liabilities262,500
Average total assets950,000
Total liabilities577,500
Net income165,000
Problem 1: The asset turnover ratio of Maggins Inc. is
1- 0.56.
2- 0.17.
3- 0.93.
4- 1.08.
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