Answer:
The correct answer is 2.36 times.
Explanation:
According to the scenario, Given data are as follows:
Total sales ( turnover ) = $52,000
Total assets = $22,000
So, Total assets turnover ratio (TATO) can be calculated as follows :
Total Assets Turnover Ratio = Turnover / Total assets
TATO = $52,000 / $22,000
TATO = 2.36 times.
Hence, the correct answer is 2.36 times.
