At January 1, 2019, Peter & Sons Company Had Total

Multiple Choice

At January 1, 2019, Peter & Sons Company had total assets of $1,400,000 and at December 31, 2019, its total assets were $1,600,000. Peter & Sons' net sales for 2019 were $1,350,000 and its 2019 net income was $120,000.
Peter & Sons' asset turnover for 2019 is:

A) 0.08
B) 0.07
C) 0.90
D) 1.25