Financial statement data for years ending December 31, 2019 and 2018, for Latchkey Company follow: a. Determine

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Financial statement data for years ending December 31, 2019 and 2018, for Latchkey Company follow:
Financial statement data for years ending December 31, 2019 and

a. Determine the asset turnover for 2019 and 2018.
b. Does the change in the asset turnover from 2018 to 2019 indicate a favorable or an unfavorable trend?

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.
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Accounting

ISBN: 978-1337899451

27th edition

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

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