Answer is not complete.\ Complete this question by entering your answers in the tabs below.\ Using the information from the requirements above, complete the 'Analysis'.\ Note: Round "fixed asset turnover ratio" answer to 2 decimal places.\ Analyze how well Parts Unlimited manages its assets:\ (a) Calculate the fixed asset turnover ratio for the year, using the total amount of property, plant, and equipment (net of accumulated\ deprecation). If the industry average fixed asset turnover is 0.75 , is the company more or less efficient at generating sales with its\ fixed assets than other companies in the same industry? (Hint: For the amount of fixed assets, use the net amount of all tangible\ long-term assets.)\ The fixed asset turnover ratio is:\ The company is more efficient at generating sales with its fixed assets.\ (b) Suppose the equipment purchased on April 1, 2024, had been depreciated using the units of production method. At the time of\ purchase, expected output was 20,000 units, and actual production for 2024 was 2,000 units. Calculate the amount of depreciation\ expense that would have been recorded and determine the difference in net income and total assets for 2024 (ignoring tax effects).\ Units-of-production depreciation:\ Depreciation expense under units-of-production method is higher. (True or False)\ Income and total assets in 2024 would have been\ (c) The transaction on June 30,2024 , shows the company purchased a patent for

$57,000

from a third-party marketing company.\ Suppose the company instead spent

$57,000

to internally develop the new packaging technology, which it then patented. Calculate\ the difference in net income and total assets for 2024 (ignoring tax effects).\ Additional expense for 2024\ The income and total assets in 2024 would have been higher. (True or False)

Answer is not complete. Complete this question by entering your answers in the tabs below. Using the information from the requirements above, complete the 'Analysis'. Note: Round "fixed asset turnover ratio" answer to 2 decimal places