Eastman Company reports the following ($ 000s): net sales of $13,557 for 2011 and $12,670 for 2010;
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Eastman Company reports the following ($ 000s): net sales of $13,557 for 2011 and $12,670 for 2010; end-of-year total assets of $14,968 for 2011 and $18,810 for 2010. Compute its total asset turnover for 2011, and assess its level if competitors average a total asset turnover of 2.0 times.
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.
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Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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