Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta

Exercise 80

Aneko Company reports the following ($000s): net sales of $14,800 for 2015 and $13,990 for 2014; end-of- year total assets of $19,100 for 2015 and $17,900 for 2014. Compute its total asset turnover for 2015, and assess its level if competitors average a total asset turnover of 2.0 times.