The following information from Ike Inc. is from a recent Form 10-K, listed in chronological order. Total Total $...

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The following information from Ike Inc. is from a recent Form 10-K, listed in chronological order. Total Total $ millions Fixed Assets Assets Revenue Net Income Fiscal Year 1 $8,502 $55,782 Fiscal Year 2 9,033 64,791 $91,803 Fiscal Year 3 10,560 64,188 97,128 Required a. Compute the asset turnover ratio for fiscal years 2 and 3. b. Compute the return on assets ratio for fiscal years 2 and 3. c. Compute the fixed asset turnover ratio for fiscal years 2 and 3. Ratio a. Asset turnover $ b. Return on assets $ c. Fixed asset turnover $ Year 2 Numerator $9,819 11,280 Denominator $ / $ / $ = = = Numerator $ $ $ Year 3 Denominator $ / $ / $ = =

Answer rating: 100% (QA)

Requirement A Requirement B Asset Turnover Ratio Return on Assets Year 2 91 80 View the full answer