The following is a list of account titles and amounts (in thousands) as reported at June 30, 2020, by Darians Dirt Bikes, Inc., a retail distributor of motorcycles:

Buildings and Improvements	$	300		Goodwill	$	87
Prepaids and Other Current Assets		128		Machinery and Equipment		654
Allowance for Doubtful Accounts		23		Accumulated Depreciation		429
Other Non-current Assets		38		Inventories		748
Cash and Cash Equivalents		67		Other Intangibles		108
Accounts Receivable		338		Land and Improvements		31

Required: 1. Prepare the asset section of a classified balance sheet for Darians Dirt Bikes, Inc. using ASPE. (Enter all amounts in thousands of dollars. Amounts to be deducted should be indicated by a minus sign.)

2-a. Using Darians Dirt Bikes, Inc.s 2020 Net Sales Revenue of $2,581 (thousand) and its Net Fixed Assets of $479 (thousand) at June 30, 2019, calculate the fixed asset turnover ratio for 2020. (Round your answer to 3 decimal places.)

Fixed asset turnover ratio is ______?

2-b. Has the company generated more or less revenue from each dollar of fixed assets than in 2019, when the ratio was 5.00? multiple choice

• More
• Less