eBook Calculator Analysis of Operating Assets At December 31, 2017, XYZ Inc. has the following amounts on its financial statements: Property, plant, and equipment $11,000 Accumulated depreciation 6,000 Total assets at January 1, 2017 30,000 Total assets at December 31, 2017 40,000 Net sales 51,000 Depreciation expense 1,000 Calculate the following: Average life of the assets: years years Average age of the assets: Asset turnover ratio (round to 2 decimal places): I times