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These are the answers i got but it is wrong. 4. Il avallavle II CULCUl. 5. After three years in business, you are being evaluated
These are the answers i got but it is wrong.
4. Il avallavle II CULCUl. 5. After three years in business, you are being evaluated for a salary increase. One measure is how efficiently you managed the assets of the business. The following data are available: Total assets Total liabilities Total shareholders' equity Total Sales Net earnings 2019* $133,000 70,000 63,000 133,000 46,200 2018 $ 77,000 35,000 42,000 119,000 30,800 2017 $63,000 28,000 35,000 84,000 7,000 *At the end of 2019, Joanne decided to open a second store, requiring loans and inventory purchases prior to the opening in early 2017. Compute the total asset turnover ratio and the return on assets for 2018 and 2019. (Round the final answers to 2 decimal places.) Asset Turnover Return on Assets 2018 1.55 0.44 2019 1.00 0.44Step by Step Solution
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