The following data are from annual reports ot Justin s Jewelry Company Compute Justin's total asset turnover
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The following data are from annual reports ot Justin s Jewelry Company
Compute Justin's total asset turnover ratio for 2004 and 2005. What do these results suggest to you about Justin's Jewelry Company?LO1
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2005 2004 2003 Total assets $ 60,000 $ 50,000 $ 40.000 Total liabilities 12.000 10,000 5,000 Total stockholders' equity 48.000 40,000 35.000 Sales 154,000 144,000 130.000 Net income 50,000 38,000 25.000
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