Question: Financial statement data for years ending December 31 for Dennis Company follow: Year 2 Year 1 Sales $2,265,000 $2,376,000 Fixed assets: Beginning of year 565,000

Financial statement data for years ending December 31 for Dennis Company follow:

Year 2 Year 1
Sales $2,265,000 $2,376,000
Fixed assets:
Beginning of year 565,000 515,000
End of year 567,500 565,000

a. Determine the fixed asset turnover ratio for Year 1 and Year 2. Round your answers to one decimal place.

Fixed asset turnover
Year 1 fill in the blank 1
Year 2 fill in the blank 2


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