Asset turnover ratio Obj. 5 Financial statement data for years ended December 31, 20Y3 and 20Y2, for

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Asset turnover ratio Obj. 5 Financial statement data for years ended December 31, 20Y3 and 20Y2, for Edison Company follow:

20Y3 20Y2 Sales $1,884,000 $1,562,000 Total assets:

Beginning of year 770,000 650,000 End of year 800,000 770,000

a. Determine the asset turnover ratio for 20Y3 and 20Y2.

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

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