E$9-15($Algo$)$ Computing and Interpreting the Fixed Asset Turnover Ratio from a Financial Analysts

Perspective $[$LO $9-7]$

The following data were Included In a recent Madan Corporation annual report $($In millions$)$:

Requlred:

Compute Madan's fixed asset turnover ratlo for $2016,2017,$ and $2018.$

During $2018,$ Mendoza reported a fixed asset turnover ratio of $9\mathrm{.}7.$ Was Madan's turnover better or worse than Mendoza's In that

year?

Complete this question by entering your answers in the tabs below.

Compute Madan's fixed asset turnover ratio for $2016,2017,$ and $2018.($Do not round intermediate calculations. Round your

answers to $1$ decimal place.$)$