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I need help to solve this accounting problem from the textbook of Accounting by Warren/ Reevec / Duchac EE 6-7189 OBJ.5 PE 6-7A Ratio of
I need help to solve this accounting problem from the textbook of Accounting by Warren/ Reevec / Duchac
EE 6-7189 OBJ.5 PE 6-7A Ratio of sales to assets Financial statement data for years ending December 31 for Latchkey Company follows: AT 2016 2015 ow ow $1,734,000 $1,645,000 Sales Total assets: Beginning of year End of year 480,000 540,000 460,000 480,000 a. Determine the ratio of sales to assets for 2016 and 2015. b. Does the change in the ratio of sales to assets from 2015 to 2016 indicate a favorable or an unfavorable trendStep by Step Solution
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