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Spears Co. had net sales of $35,400 million. Its average total assets for the period were $14,700 million. Spears' total asset turnover equals:

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Spears' total asset turnover is 2.41

Total Asset Turnover = Net Sales/Average Total Assets

Total Asset Turnover = $35,400/$14,700 = 2.41

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Answer:

2.41

Explanation:

To calculate the asset turnover ratio,we need to  divide net sales or revenue by the average total assets . In this particular case we have net sales of $35,400 million and ts average total assets for the period were $14,700 million . Please refer to the attachment for the formula and calculation .

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