Multiple Choice
Given the following information, determine Salem Company's fixed assets. Sales = $10,000,000
Total asset turnover = 4 times
Current ratio = 2.40
Current liabilities = $500,000
Total assets = current assets + fixed assets
A) $1,200,000
B) $4,800,000
C) $1,300,000
D) Cannot be determined
Correct Answer:
Verified
Correct Answer:
Verified
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