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The following is a list of account titles and amounts (in millions) reported at December 30, 2018, by KidTime Entertainment a leading manufacturer of
The following is a list of account titles and amounts (in millions) reported at December 30, 2018, by KidTime Entertainment a leading manufacturer of games, toys, and interactive entertainment software for children and families: Accounts Receivable Accumulated Amortization. $1,092 727 Equipment Goodwill $ 472 577 Accumulated Depreciation 482 Inventory 332 Allowance for Doubtful Accounts 43 Land 11 Buildings 222 Cash and Cash Equivalents 662 Licensing Rights: Prepaid Rent 1,873 337 Required: 1. Prepare the asset section of a classified balance sheet for KidTime Entertainment. 2-a. Using KidTime's 2018 Net Sales Revenue of $4,640 (million) and its average Net Fixed Assets of $274 (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 20.44?
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