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Chambersburg Corp -Refer to the Information for Chambersburg Corp

Question 164

Multiple Choice

Chambersburg Corp.
The following information is for Chambersburg Corp.for 2018 and 2017.Chambersburg uses the straight-line depreciation method.
20182017 Property, plant, and equipment $250,000$190,000 Accumulated depreciation 100,00085,000 Depreciation expense 62,50047,500 Net sales 1,000,000900,000 Average total assets 625,000475,000\begin{array} { l r r } & \underline { \mathbf { 2 0 1 8 } } & \underline { \mathbf { 2 0 1 7 } } \\\text { Property, plant, and equipment } & \$ 250,000 & \$ 190,000 \\\text { Accumulated depreciation } & 100,000 & 85,000 \\ \text { Depreciation expense } & 62,500 & 47,500 \\\text { Net sales } & 1,000,000 & 900,000 \\\text { Average total assets }& 625,000 & 475,000\end{array}
-Refer to the information for Chambersburg Corp. ?
What is the asset turnover ratio for Chambersburg for 2018?


A) 1.60 times
B) 1.82 times
C) 4.00 times
D) 4.55 times

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