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Turnover ratio
Johnstone Company had the following: Sales--$3,800,000; Interest expense--$250,000; Net income--$500,000; Total assets--$5,000,000; Noninterest-bearing current liabilities--$400,000; Cost of capital--14%; Tax rate--30%. What is the companys turnover?
The ration I did of sales dived my income was wrong |
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