E9-14 Computing and Interpreting the Fixed Asset Turnover Ratio from a Financial Analysts Perspective [LO 9-7] The following data were included in a recent Papaya Inc. annual report (in millions): 2010 2011 2012 2013 Net revenue Net property, plant, and equipment $82,225 $120,119 $163,500 $167,910 4,960 9,380 15,620 17,000 Required 1. Compute Papaya's fixed asset turnover ratio for 2011, 2012, and 2013. (Do not round intermediate calculations. Round your answers to 1 decimal place.) Year Turnover Ratio Fixed Asset 2011 2012 2013 2. During 2013, Microsoft reported a fixed asset turnover ratio of 8.1. Was Papaya's turnover better or worse than Microsoft's in that year? Better O Worse