Problem
The total assets at the beginning of the year for company XYZ was $60,000 and total liabilities of $40,000. During the year the business recorded $100,000 in revenues, $55,000 in expenses, and dividends of $10,000. Calculate the total asset turnover ratio of XYZ.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.