The following financial figures relate to Jolly for a year.
20X2
$
Sales 50,000
Cost of sales. (10,000)
Gross profit. 40000
Expenses. (15,000)
Net profit. 25,000
Capital employed. 100,000
What is the asset turnover ratio for 20X2?
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Assets
11y ago#1100,000 / 50,000 = 2 = asset turnover
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