Question

Lok Co. reports net sales of $5,856,480 for 2014 and $8,679,690 for 2015. End-of-year balances for total assets are 2013, $1,686,000; 2014, $1,800,000; and 2015, $1,982,000.
(a) Compute Lok’s total asset turn-over for 2014 and 2015.
(b) Comment on Lok’s efficiency in using its assets if its competitors average a total asset turnover of 3.0.


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  • CreatedApril 23, 2015
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