Question: Financial statement data for years ending December 31, 2019 and 2018, for Edison Company follow: 2019 2018 Sales $739,500 $670,000 Total assets: Beginning of year

Financial statement data for years ending December 31, 2019 and 2018, for Edison Company follow:

2019 2018
Sales $739,500 $670,000
Total assets:
Beginning of year 380,000 290,000
End of year 490,000 380,000

a. Determine the asset turnover for 2019 and 2018. Round your answers to one decimal place.

2019 2018
Ratio of sales to assets

b. Does the change in the asset turnover from 2018 to 2019 indicate a favorable or an unfavorable trend?

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