The Store Next Door reported the following asset values in 2011 and 2012:

In addition, The Store Next Door had sales of $3,200,000 in 2012. Cost of goods sold for the year was $1,900,000.
Compute The Store Next Door€™s fixed asset turnover ratio for2012.

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2012 2011 $ 5,000 500,000 550,000 300,000 800,000 $ 27,000 Cash Accounts receivable 480,000 280,000 660,000 Inventory Land. Buildings. Equipment 110,000 150,000