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: $ 1,108 Equipment $ 488 Accounts Receivable Accumulated Amortization Accumulated Depreciation. 743 Goodwill 593 498 Inventory 348 Allowance for Doubtful Accounts 31 Land 10 Buildings 238 Licensing Rights 1,857 Cash and Cash Equivalents. 678 Prepaid Rent Required: 1. Prepare the asset section of a classified balance sheel for KidTime Entertainment. 2-a. Using KidTime's 2018 Net Sales Revenue of $4,560 (million) and its average Net Fixed Assets of $272 (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 18.36?
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