Financial statement data for years ending December 31 for Davenport Company are shown below. a. Determine the

Question:

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

a. Determine the fixed asset turnover ratio for 2014 and 2013.
b. Does the change in the fixed asset turnover ratio from 2013 to 2014 indicate a favorable or an unfavorabletrend?

Asset Turnover
Asset turnover is sales divided by total assets. Important for comparison over time and to other companies of the same industry. This is a standard business ratio.