20. Based on the fixed asset turnover ratio in #13 above, which one of the following is not a correct statement about this company?

a. This company has too much fixed assets for its earnings powers.

b. This companys fixed assets will not pay for themselves any time soon.

c. Theres a good chance that this companys fixed assets are not fully utilized to

their maximum efficiency.

d. It may be said that this companys operating leverage is high.

e. This companys fixed assets are highly productive.