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Current liabilities section of balance sheet for new wave

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Reference no: EM13533313

Financial statement data for years ending December 31 for Fallon Company are shown below.

2012

2011

Net sales

$740,000

$520,000

Fixed assets:

Beginning of year

425,000

375,000

End of year

500,000

425,000

a. Determine the fixed asset turnover ratio for 2012 and 2011.

b. Does the change in the fixed asset turnover ratio from 2011 to 2012 indicate a favorable or an unfavorable trend?

Reference no: EM13533313

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