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The following information was reported by Amuse Yourself Parks (AYP) for 2010: Net fixed assets (beginning of year) $ 8,460,000 Net fixed assets (end of
The following information was reported by Amuse Yourself Parks (AYP) for 2010:
Net fixed assets (beginning of year) | $ | 8,460,000 | |
Net fixed assets (end of year) | 8,260,000 | ||
Net sales for the year | 4,180,000 | ||
Net income for the year | 1,750,000 | ||
1. | Compute the companys fixed asset turnover ratio for the year. |
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