Financial statement data for the years ending December 31, 20Y3 and 20Y2, for Lawson Company follow:...

Transcribed Image Text:

Financial statement data for the years ending December 31, 20Y3 and 20Y2, for Lawson Company follow: Sales Total assets: Beginning of year End of year 20Y3 $1,400,000 610,000 790,000 20Y2 $1,026,000 470,000 610,000 a. Determine the asset turnover for 20Y3 and 20Y2. Round your answers to one decimal place. Asset turnover 20Y3 20Y2 b. Is the change in the asset turnover from 2012 to 20Y3 favorable or unfavorable? Financial statement data for the years ending December 31, 20Y3 and 20Y2, for Lawson Company follow: Sales Total assets: Beginning of year End of year 20Y3 $1,400,000 610,000 790,000 20Y2 $1,026,000 470,000 610,000 a. Determine the asset turnover for 20Y3 and 20Y2. Round your answers to one decimal place. Asset turnover 20Y3 20Y2 b. Is the change in the asset turnover from 2012 to 20Y3 favorable or unfavorable?

Answer rating: 100% (QA)

a Asset turnover is calculated by dividing sales by avera... View the full answer