Current assets of Smart Inc. are $94,700. Accounts payable is $36,200, net income is $12,400 and sales are $110,800. What is the Net Working Capital Turnover Rate for Smart Inc.?
Working Capital = Current Assets - Accounts Payable
= $ 94,700 - $ 36,200
= $ 58,500
Net Working Capital Turnover Rate = Sales /Working Capital
= $ 110,800 / $ 58,500
= 1.89
Answer : 1.89
Current assets of Smart Inc. are $94,700. Accounts payable is $36,200, net income is $12,400 and...