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The following information was reported by Young's Air Cargo Service for 2011: Net fixed assets (beginning of year) Net fixed assets (end of year) Net sales for the year Net income for the year 1,920,000 Fixed asset turnover ratio 2,360,000 3,200,000 1,630,000 Compute the company's fixed asset turnover ratio for the year. (Round your answer to 2 decimal places.)

The following information was reported by Young's Air Cargo Service for 2011: Net fixed assets (beginning of year) Net fixed assets (end of year) Net sales for the year Net income for the year 1,920,000 Fixed asset turnover ratio 2,360,000 3,200,000 1,630,000 Compute the company's fixed asset turnover ratio for the year. (Round your answer to 2 decimal places.)

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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The following information was reported by Young's Air Cargo Service for 2011: Net fixed assets (beginning of year) Net fixed assets (end of year) Net sales for the year Net income for the year 1,920,000 2,360,000 3,200,000 1,630,000 Compute the company's fixed asset turnover ratio for the year. (Round your answer to 2 decimal places.) Fixed asset turnover ratio
Transcribed Image Text:The following information was reported by Young's Air Cargo Service for 2011: Net fixed assets (beginning of year) Net fixed assets (end of year) Net sales for the year Net income for the year 1,920,000 2,360,000 3,200,000 1,630,000 Compute the company's fixed asset turnover ratio for the year. (Round your answer to 2 decimal places.) Fixed asset turnover ratio
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