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Question
during 2012, phelps corporation reported net sales of $5,000,000, net income of $2,200,000, and depreciation expense of $80,000. phelps also reported beginning total assets of $1,000,000, ending total assets of $1,500,000, plant assets of $800,000, and accumulated depreciation of $500,000. phelpss asset turnover ratio is
a.2.5 times
b.2.0 times
c.3.3 times
d.4.0 times
Answer
This answer is hidden. It contains 1 characters.
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