Binding Company reported net fixed assets of $190,000 at the end of Year 1 and $210,000 at the end of Year 2. The company also reported net revenues of $200,000 for Year 1 and $240,000 for Year 2. What was the fixed asset turnover ratio?

Question

04-11-2022
Mathematics

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Binding Company reported net fixed assets of $190,000 at the end of Year 1 and $210,000 at the end of Year 2. The company also reported net revenues of $200,000 for Year 1 and $240,000 for Year 2. What was the fixed asset turnover ratio?

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