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Using the Following Data for Renfro Inc

Question 130

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Using the following data for Renfro Inc. compute its asset turnover.  Renfro, Inc.  Net Income 2017 $123,000 Total Assets 12/31/17 2,443,000 Total Assets 12/31/16 2,880,000 Net Sales 2017 2,135,000\begin{array} { l l r } & \text { Renfro, Inc. } & \\\text { Net Income 2017 } && \$ 123,000 \\\text { Total Assets 12/31/17 } && 2,443,000 \\\text { Total Assets 12/31/16 } && 2,880,000 \\\text { Net Sales 2017 } && 2,135,000\end{array}

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