At December 31, 2011, Clark Corporation reported beginning net fixed assets of $94,150, ending net fixed assets

Question:

At December 31, 2011, Clark reported beginning net fixed assets of $94,150, ending net fixed assets of $103,626, accumulated depreciation of $49,133, net sales of $212,722, and depreciation expense of $12,315.

Required:
Compute Clark Corporation’s fixed ratio and the average age of its fixed assets. 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. Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...