The following is a list of account titles and amounts (in thousands) reported at June 30, 2017, by Darian’s Dirt Bikes, Inc., a retail distributor of motorcycles: 

Required: 

1. Prepare the asset section of a classified balance sheet for Darian’s Dirt Bikes, Inc. using ASPE. 

2. Using Darian’s Dirt Bikes, Inc.’s 2017 Net Sales Revenue of $2,520 (thousand) and its Net Fixed Assets of $471 (thousand) at June 30, 2016, calculate the fixed asset turnover ratio for 2017. Has the company generated more or less revenue from each dollar of fixed assets than in 2016, when the ratio was 5.00? 

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Buildings and Improvements $292 Goodwill $ 79 Prepaids and Other Current Assets 120 Machinery and Equipment 646 Allowance for Doubtful Accounts 15 Accumulated Depreciation 421 Other Non-current Assets 30 Inventories 740 Cash and Cash Equivalents 59 Other Intangibles 100 Accounts Receivable 330 Land and Improvements 23