Lok Co. reports net sales of $5,856,480 for 2015 and $8,679,690 for 2016. End-of-year balances for total
Question:
Lok Co. reports net sales of $5,856,480 for 2015 and $8,679,690 for 2016. End-of-year balances for total assets are 2014, $1,686,000; 2015, $1,800,000; and 2016, $1,982,000.
Compute Lok's total asset turnover for 2015 and 2016.
Comment on Lok's efficiency in using its assets if its competitors average a total asset turnover of 3.0?
Asset TurnoverAsset 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.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Analysis comments Based on these calculations Lok turned ...View the full answer
Answered By
Fahmin Arakkal
Tutoring and Contributing expert question and answers to teachers and students.
Primarily oversees the Heat and Mass Transfer contents presented on websites and blogs.
Responsible for Creating, Editing, Updating all contents related Chemical Engineering in
latex language
8+ Reviews
22+ Question Solved
Related Book For 
Financial Accounting Information for Decisions
ISBN: 978-1259533006
8th edition
Authors: John J. Wild
Question Posted:
