Asset turnover Three major segments of the transportation industry are motor carriers, such as Atlantic;...
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Asset turnover Three major segments of the transportation industry are motor carriers, such as Atlantic; railroads, such as Pacific; and transportation arrangement services, such as Mediterranean. Recent financial statement information for these three companies is shown as follows (in thousands of dollars): Atlantic Pacific Mediterranean Sales $715,380 $3,065,236 901,540 $3,014,613 1,435,530 Average total assets 476,920 a. Determine the asset turnover for all three companies. Round to one decimal place. Atlantic Pacific Mediterranean b. The ratio of sales to assets measures the number of sales dollars earned for each dollar of assets. The greater the number of sales dollars earned for every dollar of assets, the efficient a firm is in using assets
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