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The following data are from annual reports of Justin's Jewellery Company: Total assets Total liabilities Total shareholders' equity Sales Net earnings 2020 2019 2018 $
The following data are from annual reports of Justin's Jewellery Company: Total assets Total liabilities Total shareholders' equity Sales Net earnings 2020 2019 2018 $ 86,000 $ 76,000 $ 66,000 25,000 23,000 18,000 61,000 53,000 48,000 230,000 220,000 206,000 7,600 6,000 38,000 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 "Asset turnover" to 1 decimal place and "Return on assets" to 3 decimal places.) 2020 2019 Asset turnover Return on assets
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