Last year, the House of Orange had sales of $826,650, net operating income of $81,000, and operating assets of $84,000 at the beginning of the year and $90,000 at the end of the year.

What was the company's turnover rounded to the nearest tenth?

A) 9.8

B) 10.2

C) 9.5

D) 9.2

Asset turnover helps investors understand how effectively companies are using their assets to generate sales. Asset turnover is calculated by using following formula:

Asset Turnover = Total Sales or Revenue/ Average Total Assets

where:

Average Total Assets = (Beginning Assets + Ending Assets )/2 = (Assets at the beginning of year +Assets at end of year )/2

In the House of Orange:

Average Total Assets = ($84,000 + $90,000)/2 = $87,000

Asset Turnover = $826,650/$87,000 = 9.5

Last year, the House of Orange had sales of $826,650, net operating income of $81,000, and operating assets of $84,000 at the beginning of the year and $90,000 at the end of the year. What was the company's turnover rounded to the nearest tenth? A) 9.8 B) 10.2 C) 9.5 D) 9.2

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Last year, the House of Orange had sales of $826,650, net operating income of $81,000, and operating assets of $84,000 at the beginning of the year and $90,000 at the end of the year.

What was the company's turnover rounded to the nearest tenth?

A) 9.8

B) 10.2

C) 9.5

D) 9.2