E8.12 Calculate average useful life, average age of property, plant and equipment, and asset turnover ratio. LO14 For the year ended 31 January 2018, Beta Ltd reported the following information (in thousands):

net sales $1 663 970, profit $21 935, depreciation expense $6399. The statement of financial position showed total assets of $609 041 at the beginning of the year, and $515 357 at the end of the year; property, plant and equipment of $105 282 (cost) at the beginning of the year and $90 861 (cost) at the end of the year; and accumulated depreciation at year-end of

$38 797.

Required Calculate the following:

(a) average useful life of PPE assets.

(b) average age of PPE assets.

(c) asset turnover ratio.

Comment on how to interpret these ratios.