Business Maths

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During 2007, Sitter Corporation reported net sales of $2,000,000, net income of $1,200,000, and depreciation expense of $100,000. Sitter also beginning total asset of $1,000,000, ending total asset of $1,500,000, plant asset of $800,000, and accumulated depreciation of $500,000. Sitter’s asset turnover ratio is:

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