"ABC" Company sales last year were $365,000, and its year-end total assets were $791,000. The...
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"ABC" Company sales last year were $365,000, and its year-end total assets were $791,000. The average firm in the industry has a total assets turnover ratio of 9. "ABC" Company's new CFO believes the firm has excess assets that can be sold so as to bring the down total assets turnover ratio to the industry average without affecting sales. By how much must the assets be reduced to bring the total assets turnover ratio to the industry average, holding sales constant? Note: In writing your answer, avoid using the comma in separating the digits, and round your final answer to the nearest dollar
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