Dandy Hardware Stores reported the following asset values in 2014 and 2015: In addition, Dandy Hardware had

Question:

Dandy Hardware Stores reported the following asset values in 2014 and 2015:

In addition, Dandy Hardware had sales of $3,500,000 in 2015. Cost of goods sold for the year was $2,200,000. Compute Dandy Hardware's fixed asset turnover ratio for 2015.

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.