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The following data are from annual reports of Justins Jewellery Company: value 10.00 points E3-17 Computing and Explaining the Total Asset Turnover Ratio LO3-6 The
The following data are from annual reports of Justins Jewellery Company:
value 10.00 points E3-17 Computing and Explaining the Total Asset Turnover Ratio LO3-6 The following data are from annual reports of Justin's Jewellery Company: 2017 2016 2015 Total assets Total liabilities Total shareholders' equity Sales Net earnings $ 68,000 $ 58,000 48,000 39,000 29,000 14,000 44,000 140,000 130,000 116,000 4,000 9,000 16,000 52,000 5,800 Compute Justin's total asset tunover ratio and its return on assets for 2016 and 2017. (Enter your answers in numbers and not in percentages. Round "Asset turnover" to 1 decimal place and "Return on assets" to 3 decimal places.) 2017 2016 Asset turnover Return on assets References eBook &ResourcesStep by Step Solution
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