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Chapter 11-3 The balance sheets of Pinewood Resorts reported net fixed assets of $880,000 and $1,030,000 at the end of 2015 and 2016, respectively. The

Chapter 11-3

The balance sheets of Pinewood Resorts reported net fixed assets of $880,000 and $1,030,000 at the end of 2015 and 2016, respectively. The fixed-asset turnover ratio for 2016 was 3.8.

Calculate Pinewoods net sales for 2016.

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