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Data from XYZ Companys financial statements for year ending December 31 are: Account 2016: Sales $1,500,000 Fixed Assets: Beginning of Year $450,000 End of Year
Data from XYZ Companys financial statements for year ending December 31 are:
Account 2016: Sales $1,500,000 Fixed Assets: Beginning of Year $450,000 End of Year $560,000
Account 2017: Sales $1,700,000 Fixed Assets: Beginnig of Year $560,000 End of Year $700,000
a) Determine the fixed asset turnover for 2016 and 2017.
b) Is there a favorable or unfavorable trend in the fixed asset turnover from 2015 to 2016?
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