Green yard care has net income of $62,300, a tax rate of 21 percent, and a profit margin of 6.7 percent. total assets are $1,100,500 and current assets are $328,200. how many dollars of sales are being generated from every dollar of net fixed assets?

Calculation of Fixed Assets Turnover ratio (How many dollars of sales are being generated from every dollar of net fixed assets):

We can calculate Assets Turnover ratio using the following formula;

Fixed Assets Turnover ratio = Net Sales / Fixed Assets

We are given that Green Yard Care has net income of $62,300, and a profit margin of 6.7 percent. That mean Net Sales = 62300/6.7% = $928,850.75.

And Fixed Assets = $1,100,500  - $328,200 = $772,300

Now we can calculate Assets Turnover ratio as follows:

Fixed Assets Turnover ratio = Net Sales / Fixed Assets

= $928,850.75 / $772300

= 1.2027

Hence we can say $1.2027 dollars of sales are being generated from every dollar of net fixed assets.

i might look it up later.

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