Question
Asset Turnover The ABC Depot reported the following data (in millions) in its recent financial statements: Sales Total assets at the end of the
Asset Turnover The ABC Depot reported the following data (in millions) in its recent financial statements: Sales Total assets at the end of the year Total assets at the beginning of the year Year 2 Year 1 $83,070 $85,920 61,600 66,200 66,200 77,000 a. Determine the asset turnover for The ABC Depot for Year 2 and Year 1. Round to one decimal place. Year 2: Year 1: b. What do these turnover indicate concerning the trend in the ability of The ABC Depot to effectively use its assets to generate sales?
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