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Asset turnover ratio Financial statement data for years ended December 31, 20Y3 and 20Y2, for...

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Accounting

Asset turnover ratio

Financial statement data for years ended December 31, 20Y3 and 20Y2, for Edison Company follow:

Line Item Description 20Y3 20Y2
Sales $1,749,000 $1,512,000
Total assets:
Beginning of year 770,000 670,000
End of year 820,000 770,000

a. Determine the asset turnover ratio for 20Y3 and 20Y2. Round answers to one decimal place.

Line Item Description 20Y3 20Y2
Asset turnover fill in the blank 1 fill in the blank 2

b. Is the change in the asset turnover ratio from 20Y2 to 20Y3 favorable or unfavorable?

FavorableUnfavorable


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