Teridan Co. reports net sales of $4,796,000 for 2008 and $8,758,000 for 2009. End-of-year balances for
total assets are 2007, $1,578,000; 2008, $1,824,000; and 2009, $1,946,000. (a) Compute Teridan’s total
asset turnover for 2008 and 2009. (b) Comment on Teridan’s efficiency in using its assets if its competitors
average a total asset turnover of 3.0.
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