Question: 3 10 points E3-17 Computing and Explaining the Total Asset Turnover Ratio LO3-6 The following data are from annual reports of Justin's Jewellery Company

3 10 points E3-17 Computing and Explaining the Total Asset Turnover Ratio

3 10 points E3-17 Computing and Explaining the Total Asset Turnover Ratio LO3-6 The following data are from annual reports of Justin's Jewellery Company 2020 2019 2018 $100,000 $90,000 50,000 020311 Total assets Total liabilities 32,000 30,000 25.000 Total shareholders' equity Sales 68,000 60,000 $5,000 300,000 290.000 274,000 Net earnings 9,000 6.900 45,000 Book Print Required: References Compute Justin's total asset turnover ratio and its return on asset for 2019 and 2020. (Enter your answers in numbers and not in percentages. Round "Asset turnover" to 1 decimal place and "Return on assets to 3 decimal places.) Asset turmover Retum on assets 2020 2019 CH

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