The following data are from annual reports of Justin's Jewellery Company: Total assets 2023 $ 98,000...

 

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The following data are from annual reports of Justin's Jewellery Company: Total assets 2023 $ 98,000 $ 2022 Total liabilities 31,000 2021 88,000 $ 78,000 29,000 24,000 Total shareholders' equity Sales 67,000 59,000 54,000 290,000 Net earnings 8,800 280,000 6,700 266,000 44,000 Required: Compute Justin's total asset turnover ratio and its return on assets for 2022 and 2023. (Enter your answers in numbers and not in percentages. Round the final asset turnover answers to 1 decimal place and return on assets to 3 decimal places.) 2023 Asset turnover 3.1 Return on assets 0.095 2022 The following data are from annual reports of Justin's Jewellery Company: Total assets 2023 $ 98,000 $ 2022 Total liabilities 31,000 2021 88,000 $ 78,000 29,000 24,000 Total shareholders' equity Sales 67,000 59,000 54,000 290,000 Net earnings 8,800 280,000 6,700 266,000 44,000 Required: Compute Justin's total asset turnover ratio and its return on assets for 2022 and 2023. (Enter your answers in numbers and not in percentages. Round the final asset turnover answers to 1 decimal place and return on assets to 3 decimal places.) 2023 Asset turnover 3.1 Return on assets 0.095 2022