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Financial statement data for years ending December 31 for Dennis Company follow: Year 2 Year 1 Sales $2,265,000 $2,376,000 Fixed assets: Beginning of year 565,000
Financial statement data for years ending December 31 for Dennis Company follow:
Year 2 | Year 1 | |||
Sales | $2,265,000 | $2,376,000 | ||
Fixed assets: | ||||
Beginning of year | 565,000 | 515,000 | ||
End of year | 567,500 | 565,000 |
a. Determine the fixed asset turnover ratio for Year 1 and Year 2. Round your answers to one decimal place.
Fixed asset turnover | |
Year 1 | fill in the blank 1 |
Year 2 | fill in the blank 2 |
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