Financial statement data for years ending December 31, 2019 and 2018, for Latchkey Company follow: a. Determine
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![Financial statement data for years ending December 31, 2019 and](https://dsd5zvtm8ll6.cloudfront.net/si.question.images/image/images14/1243-B-C-A-L(230).png)
a. Determine the asset turnover for 2019 and 2018.
b. Does the change in the asset turnover from 2018 to 2019 indicate a favorable or an unfavorable trend?
Asset turnover is sales divided by total assets. Important for comparison over time and to other companies of the same industry. This is a standard business ratio.
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Related Book For
Accounting
ISBN: 978-1337899451
27th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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