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Selected Item Attempt Preview Preview In Window Small Preview Asset turnover Financial statement data for...

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Accounting

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Selected Item Attempt Preview Preview In Window Small Preview Asset turnover Financial statement data for years ending December 31, 2019 and 2018, for Edison Company follow: 2019 2018 Sales $1,385,500 $1,080,000 Total assets: Beginning of year 680,000 520,000 End of year 950,000 680,000 a. Determine the asset turnover for 2019 and 2018. Round your answers to one decimal place. 1.7 2019 2018 Ratio of sales to assets 1.26 b. Does the change in the asset turnover from 2018 to 2019 indicate a favorable or an unfavorable trend? Favorable X Favorable Unfavorable

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