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Big Deer Industries Gathered 201020092010 \quad 2009

Question 76

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Use the following to answer questions
Big Deer Industries gathered the following year-end data (in thousands) for 2010 and 2009:
                                                        201020092010 \quad 2009
 Current Assets $450$500 Long-Term Assets 810620 Current Liabilities 310420 Long-Term Liabilities 500610 Owners’ Equity 500300 Net Sales 900810 Gross Margin 410400 Net Tncome 18013\begin{array}{lrr}\text { Current Assets } & \$ 450 & \$ 500 \\\text { Long-Term Assets } & 810 & 620 \\\text { Current Liabilities } & 310 & 420 \\\text { Long-Term Liabilities } & 500 & 610 \\\text { Owners' Equity } & 500 & 300 \\\text { Net Sales } & 900 & 810 \\\text { Gross Margin } & 410 & 400 \\\text { Net Tncome } & 180 & 13\end{array}
-The asset turnover ratio for 2010 was:


A) 45.8
B) 57.1
C) 63.3
D) 75.6

Correct Answer:

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