Selected data from the 2015 financial statements of KRJ Manufacturing are presented below. Calculate the...
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Accounting
Selected data from the 2015 financial statements of KRJ Manufacturing are presented below. Calculate the total asset turnover for the year, rounded to two decimal places. e.g. 20.00.
Sales $109,663
Gross profits $94,084
Operating profits (EBIT) $34,571
Earnings before taxes (EBT) $27,189
Net profits $17,467
Tax expense 9,549
Depreciation expense $14,702
Total assets, Dec. 31, 2014 $82,905
Total assets, Dec. 31, 2015 $83,331
Total equity, Dec. 31, 2014 $46,228
Total equity, Dec. 31, 2015 $49,950
Cash flow from operations $33,951
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