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Nvidia Corporation, a global technology company located in Santa Clara, California, reported the following information in its 2014 financial statements ($ in thousands): 2014 2013 Balance sheets $ 582,740 Property, plant, and equipment (net) Income statement Net sales for 2014 $576,144 $4,130,162 Required: 1. Calculate the company's 2014 fixed-asset turnover ratio. 2. How would you interpret this ratio?

Nvidia Corporation, a global technology company located in Santa Clara, California, reported the following information in its 2014 financial statements ($ in thousands): 2014 2013 Balance sheets $ 582,740 Property, plant, and equipment (net) Income statement Net sales for 2014 $576,144 $4,130,162 Required: 1. Calculate the company's 2014 fixed-asset turnover ratio. 2. How would you interpret this ratio?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Nvidia Corporation, a global technology company located in Santa Clara, California, reported the following information in its 2014 financial statements ($ in thousands): 2014 2013 Balance sheets $ 582,740 Property, plant, and equipment (net) Income statement Net sales for 2014 $576,144 $4,130,162 Required: 1. Calculate the company's 2014 fixed-asset turnover ratio. 2. How would you interpret this ratio?
Transcribed Image Text:Nvidia Corporation, a global technology company located in Santa Clara, California, reported the following information in its 2014 financial statements ($ in thousands): 2014 2013 Balance sheets $ 582,740 Property, plant, and equipment (net) Income statement Net sales for 2014 $576,144 $4,130,162 Required: 1. Calculate the company's 2014 fixed-asset turnover ratio. 2. How would you interpret this ratio?
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