Question: Cornerstone Exercise 7-24 (Algorithmic) Analyze Fixed Assets At December 31, 2019, Clark Corporation reported beginning net fixed assets of $84,365, ending net fixed assets of

Cornerstone Exercise 7-24 (Algorithmic) Analyze Fixed Assets

At December 31, 2019, Clark Corporation reported beginning net fixed assets of $84,365, ending net fixed assets of $103,548, accumulated depreciation of $48,753, net sales of $212,722, and depreciation expense of $12,415.

Required:

Compute Clark Corporation fixed asset turnover ratio and the average age of its fixed assets. (Note: Round answers to two decimal places.)

Fixed asset turnover ratio
Average age of fixed assets

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