Mock Orange Company and Cotoneaster Company both manufacture pruning shears. The following financial information is for three

Question:

Mock Orange Company and Cotoneaster Company both manufacture pruning shears. The following financial information is for three years ended December 31 (in thousands):

Instructions
a. Calculate the asset turnover and return on assets ratios for both companies for 2023 and 2024. Round your answers to two decimal points.
b. Comment on how effective each of the companies is at using its assets to generate sales and produce profit.

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Accounting Principles Volume 1

ISBN: 9781119786818

9th Canadian Edition

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

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Question Posted: Jul 01, 2023 03:31 AM

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Mock Orange Company and Cotoneaster Company both manufacture pruning shears. The following financial information is for three

Question:

Mock Orange Company Net sales Profit Total assets Cotoneaster Company Net sales Profit Total assets 2024 $9,428.0 627.7 5,829.1 2024 $3,839.8 143.4 2,754.5 2023 $8,894.3 597.8 5,771.4 2023 $3,656.9 137.9 2,504.1 2022 $8,235.5 553.5 5,343.9 2022 $3,417.7 128.9 2,340.3

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a b Mock Orange Company is more efficient in using its assets to generate salesits ...View the full answer

Accounting Principles Volume 1

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