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Asset Turnover The ABC Depot reported the following data (in millions) in its recent financial statements: Year 2 Year 1 Sales $131,240 $119,560 Total assets

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Asset Turnover The ABC Depot reported the following data (in millions) in its recent financial statements: Year 2 Year 1 Sales $131,240 $119,560 Total assets at the end of the year 74,400 80,000 Total assets at the beginning of the year 80,000 90,800 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? The company is becoming more effective in using its assets to generate revenues

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