The following financial statement data for years ending December 31 for Latchkey Company are shown below. a.

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The following financial statement data for years ending December 31 for Latchkey Company are shown below.

a. Determine the ratio of net sales to assets for 2014 and 2013.
b. Does the change in the ratio of net sales to assets from 2013 to 2014 indicate a favorable or an unfavorabletrend?

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Corporate Financial Accounting

ISBN: 978-1133952411

12th edition

Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac

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Question Posted: Feb 28, 2014 08:04 AM

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The following financial statement data for years ending December 31 for Latchkey Company are shown below. a.

Question:

2014 2013 Net sales Total assets: $1,734,000 $1,645,000 480,000 460,000 540,00 480,000 Beginning of year End of year

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Corporate Financial Accounting

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