Question: Financial statement data for years ended December 3 1 , 2 0 Y 3 and 2 0 Y 2 , for Edison Company follow: 2

Financial statement data for years ended December 31,20Y3 and 20Y2, for Edison Company follow:20Y320Y2Sales$2,233,000$1,849,500Total assets:Beginning of year730,000640,000End of year810,000730,000a. Determine the asset turnover ratio for 20Y3 and 20Y2. Round answers to one decimal place.20Y320Y2Asset turnoverb. Is the change in the asset turnover ratio from 20Y2 to 20Y3 favorable or unfavorable?

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