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The following is a list of account titles and amounts (in millions) reported at December 30, 2018, by Reyes Recreation a leading manufacturer of
The following is a list of account titles and amounts (in millions) reported at December 30, 2018, by Reyes Recreation a leading manufacturer of games, toys, and interactive entertainment software for children and families: Accounts Receivable Accumulated Amortization $ 1,121 Equipment 753 Goodwill $498 603 Accumulated Depreciation 508 Inventory 358 Allowance for Doubtful Accounts. 36 Land 11 Buildings 248 Cash and Cash Equivalents 688 Licensing Rights Prepaid Rent 1,843 363 Required: 1. Prepare the asset section of a classified balance sheet for Reyes Recreation. 2-a. Using Reye's 2018 Net Sales Revenue of $4,490 (million) and its average Net Fixed Assets of $270 (million), calculate the fixed asset turnover ratio for 2018. 2-b. Has the company generated more or less revenue from each dollar of fixed assets than in 2017, when the ratio was 18.29? Req 1 Req 2A Req 28 Prepare the asset section of a classified balance sheet for Reyes Recreation. (Enter assets in the order of their liquidity. Enter your answers in millions. Amounts to be deducted should be indicated by a minus sign.) Reyes Recreation Balance Sheet (partial).. December 30, 2018 (in millions) Assets Current Assets: Total Current Assets Property, Plant, and Equipment Property, Plant, and Equipment (at cost) Total Property, Plant, and Equipment (net) Other Assets Total Other Assets Total Assets 0 0 0 0 0 $ 0 < Prev 7 of 9 Next X Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 28 Using Reye's 2018 Net Sales Revenue of $4,490 (million) and its average Net Fixed Assets of $270 (million), calculate the fixed asset turnover ratio for 2018. (Round your answer to 2 decimal places.) Fixed Asset Turnover Ratio < Req 1 Req 28 > Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 28 Has the company generated more or less revenue from each dollar of fixed assets than in 2017, when the ratio was 18.29? More Revenue Less Revenue < Req 2A Req 2B >
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