Question
The following data are from annual reports of Justin's Jewellery Company: 2020 2019 2018 Total assets Total liabilities Total shareholders' equity Sales Net earnings
The following data are from annual reports of Justin's Jewellery Company: 2020 2019 2018 Total assets Total liabilities Total shareholders' equity Sales Net earnings $ 60,000 $ 50,000 $ 40,000 12,000 10,000 5,000 48,000 40,000 35,000 154,000 144,000 130,000 5,000 3,800 25,000 Required: Compute Justin's total asset turnover ratio and its return on assets for 2019 and 2020. (Enter your answers in numbers and not in percentages. Round the final asset turnover answers to 1 decimal place and return on assets to 3 decimal places.) Asset turnover Return on assets 2020 2019
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