11. Olin Corporation's sales last year were $260,000, and its year-end total assets were $355,000....
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11. Olin Corporation's sales last year were $260,000, and its year-end total assets were $355,000. The average firm in the industry has a total assets turnover ratio of 2.5. The firm's new CFO believed that the firm had excess assets that could be sold so as to bring the total assets turnover ratio down to the industry average without affecting sales. By how much should the assets be reduced to bring the total assets turnover ratio to the industry average, holding sales constant? O $104,000 O $142,000 $213,000 $251,000 O None of the above
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