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for part A, I tried following this formula but was wrong: PPE turnover = Net Sales[Fixed assets- Accumulated depreciation] Thank you in advance! 214.2 Computing
for part A, I tried following this formula but was wrong: PPE turnover = Net Sales[Fixed assets- Accumulated depreciation]
Thank you in advance!
214.2 Computing Asset Related Ratios J.M. Smucker included the following information in its April 2019 10-K. $ millions Apr. 30, 2019 Apr. 30, 2018 Sales $8,151.5 Depreciation expense Land 127.0 $124.9 Buildings and fixtures Machinery and equipment 2,294.3 2,217.1 Construction in progress 334.7 220.6 Gross property, plant, and equipment 3,407.7 Accumulated depreciation (1,684.5) (1.588.3) Total property, plant, and equipment $2,010.8 $1,819.4 939.3 845.1 3,695.3 a. Compute PPE turnover for fiscal year ended April 30, 2019. Round answer to one decimal place. 0 x b. Compute the average useful life of depreciable assets at April 30, 2019. Round answer to one decimal place. 0 x years C. Compute the percentage used up of the PPE at April 30, 2019. Round answer to one decimal place (ex: 0.2345 = 23.5%) 0 x %Step by Step Solution
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