For the year ended 31 January 2015, 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.

(d) Comment on how to interpret these ratios.