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Assets Amount (USD) Liabilities and Equity Amount (USD) Cash $375,000 Accounts Payable $200,000 Accounts Receivable $280,000 Notes Payable $220,000 Inventory $300,000 Long-term Debt $550,000 Property

Assets

Amount (USD)

Liabilities and Equity

Amount (USD)

Cash

$375,000

Accounts Payable

$200,000

Accounts Receivable

$280,000

Notes Payable

$220,000

Inventory

$300,000

Long-term Debt

$550,000

Property

$750,000

Shareholders' Equity

$1,200,000

Calculate the fixed asset turnover ratio for the company based on the provided balance sheet and the total revenue of $2,000,000.

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