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Exercise 191 (Part Level Submission) Selected financial statement data for Homer Company are presented below.

Cost of goods sold $1,500,000
Average total assets 700,000
Interest expense 10,000
Net income 205,000
Total assets (ending) 900,000
Total common stockholders' equity (ending) 600,000


Total assets at the beginning of the year were $800,000; total common stockholders' equity was $500,000 at the beginning of the period.
(a) Calculate?asset turnover.?(Round answer to 2 decimal placea, e.g. 15.21%.)

Asset turnover

%

 


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