Assume the residential division of kappykappy faucets had the following results last year: net sales revenue $16,320,000 operating income 6,528,000 average total assets 5,100,000 management's target rate of return 16% what is the division's asset turnover ratio?

3.20

Explanation:

The computation of the asset turnover ratio is shown below:

Total asset turnover = (Net Sales revenue ÷ Average Total assets)

                                  = ($16,320,000 ÷ $5,100,000)

                                  = 3.20

It shows a ratio between the net sales revenue and the average total assets.

All other information which is given is not relevant. Hence, ignored it

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