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Suncor Energy Inc. reported the following information for the fiscal years ended December 31, 2019, and December 31, 2018 (in millions): Instructions a. Calculate Suncors asset turnover and return on assets for the two years. b. Comment on what the

Suncor Energy Inc. reported the following information for the fiscal years ended December 31, 2019, and December 31, 2018 (in millions): 


Instructions 

a. Calculate Suncor’s asset turnover and return on assets for the two years. 

b. Comment on what the ratios reveal about Suncor’s effectiveness in using its assets to generate revenues and produce profit.

Transcribed Image Text:

Net revenues Net earnings Total assets, end of year Total assets, beginning of year 2019 $38,344 2,899 89,435 89,579 2018 $38,542 3,293 89,579 89,494

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a. In millions b. Suncors asset turnover stayed the same from 2018 to 2019 In contras…View the full answer


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Related Book For  answer-question
Accounting Principles Volume 2

Accounting Principles Volume 2

ISBN: 9781119786634

9th Canadian Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

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Question Details
Chapter # 1- Accounting in Action
Section: Exercises
Problem: 18
Posted Date: January 19, 2023 06:07:29
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