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The following financial statement data for years ending December 31

The following financial statement data for years ending December 31

The following financial statement data for years ending December 31 for Latchkey Company are shown below.

a. Determine the ratio of net sales to assets for 2014 and 2013.
b. Does the change in the ratio of net sales to assets from 2013 to 2014 indicate a favorable or an unfavorabletrend?

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Transcribed Image Text

2014 2013 Net sales Total assets: $1,734,000 $1,645,000 480,000 460,000 540,00 480,000 Beginning of year End of year

Related Book For Free

Corporate Financial Accounting

12th edition

Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac

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