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Flounder Company and Novak Corp. two corporations of roughly the same size, are both involved in the manufacture of in line skates. Each company depreciates

Flounder Company and Novak Corp. two corporations of roughly the same size, are both involved in the manufacture of in line skates. Each company depreciates its plant assets, using the straight-line approach. An investigation of their financial statements reveals the following:

Flounder Co. Novak Corp

Net income $800,000 1,100,000

Net sales $1,326,000 $1,250,500

Average plant assets $2,550,000 $2,050,000

Average plant assets $1,820,000 $1,010,000

For each company calculate the asset turnover.

Flounder Co. Novak Corp

Asset turnover ___________ times _____________times

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