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b. In 20X2, sales increased to $5,870,000 and the assets for that year were as follows: Cash Accounts receivable Inventory Net plant and equipment Total assets $ 133,000 978,000 1,038,000 536,000 $2,685,000 Compute the following: (Round your answers to 2 decimal places.) Patine

b. In 20X2, sales increased to $5,870,000 and the assets for that year were as follows: Cash Accounts receivable Inventory Net plant and equipment Total assets $ 133,000 978,000 1,038,000 536,000 $2,685,000 Compute the following: (Round your answers to 2 decimal places.) Patine

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 44E: Whalen Company had net sales of 125,500,250,000. Whalen had the following balances: Required: Note:...
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b. In 20X2, sales increased to $5,870,000 and the assets for that year were as follows: Cash Accounts receivable Inventory Net plant and equipment Total assets $ 133,000 978.000 1,038,000 536,000 $2,685,000 Compute the following: (Round your answers to 2 decimal places.) 1. Accounts receivable turnover 2. Inventory turnover 3. Fixed asset turnover 4. Total asset tumover Turnover Ratios times times times times c. Is there an improvement or a decline in the total asset turnover?
Transcribed Image Text:b. In 20X2, sales increased to $5,870,000 and the assets for that year were as follows: Cash Accounts receivable Inventory Net plant and equipment Total assets $ 133,000 978.000 1,038,000 536,000 $2,685,000 Compute the following: (Round your answers to 2 decimal places.) 1. Accounts receivable turnover 2. Inventory turnover 3. Fixed asset turnover 4. Total asset tumover Turnover Ratios times times times times c. Is there an improvement or a decline in the total asset turnover?
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