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SE9-10. Return on Assets and Asset Turnover Last year, the Miller company reported a return on assets of 15% and an asset turnover of 1.6.
SE9-10. Return on Assets and Asset TurnoverLast year, the Miller company reported a return on assets of 15% and an asset turnover of 1.6. In the current year, the company reported a return on assets of 19% but an asset turnover of only 1.2. If sales revenue remained unchanged from last year to the current year, what would explain the two ratio results?
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