Ratio of sales to assets OBJ. 5 Financial statement data for years ending December 31 for Latchkey

Question:

Ratio of sales to assets OBJ. 5 Financial statement data for years ending December 31 for Latchkey Company follows:

2016 2015 Sales $1,734,000 $1,645,000 Total assets:

Beginning of year 480,000 460,000 End of year 540,000 480,000

a. Determine the ratio of sales to assets for 2016 and 2015.

b. Does the change in the ratio of sales to assets from 2015 to 2016 indicate a favorable or an unfavorable trend?

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