The asset turnover of a company is 3.2. The total assets are $32,000.00. What were the net sales?
$102,400
To find the net sales, we can use the asset turnover formula. The formula for asset turnover is:
Asset Turnover = Net Sales / Total Assets
Given that the asset turnover is 3.2 and the total assets are $32,000.00, we can rearrange the formula to find the net sales:
Net Sales = Asset Turnover * Total Assets
Substituting the values into the formula:
Net Sales = 3.2 * $32,000.00
Calculating the value:
Net Sales = $102,400.00
Therefore, the net sales of the company were $102,400.00.