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Mehring Company Reported Net Sales of $450,000, Net Income of $90,000

Question 99

Multiple Choice

Mehring Company reported net sales of $450,000, net income of $90,000, beginning total assets of $240,000, and ending total assets of $360,000. What was the company's asset turnover ratio?


A) 1.88
B) 0.30
C) 1.50
D) 1.85

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