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Covington Company Reported the Following Data What Is Rubber Soul's Asset Turnover for 2008?
A)1

Question 52

Multiple Choice

Covington Company reported the following data: 20072008 Sales $2,000,000$2,600,000 Net Income 300,000400,000 Assets at year end 1,800,0002,500,000 Liabilities at year end 1,100,0001,500,000\begin{array}{lrr}&2007&2008\\\text { Sales } & \$ 2,000,000 & \$ 2,600,000 \\\text { Net Income } & 300,000 & 400,000 \\\text { Assets at year end } & 1,800,000 & 2,500,000 \\\text { Liabilities at year end } & 1,100,000 & 1,500,000\end{array} What is Rubber Soul's asset turnover for 2008?


A) 1.12
B) 1.15
C) 1.30
D) 1.56

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