Computing and Explaining the Total Asset Turnover Ratio
The following data are from annual reports of Jen's Jewelry Company:
| 2012. | 2011. | 2010. |
Total assets | $ 60,000 | S 53,000 | $41,000 |
Total liabilities | 14,000 | 11,000 | 6,000 |
Total stockholders' equity | 46,000 | 42,000 | 35,000 |
Sales revenue | 163,000 | 151,000 | 132,000 |
Net income | 51,000 | 40,000 | 25,000 |
Compute Jen's total asset turnover ratio for 2012 and 2011. What do these results suggest to you about Jen's Jewelry Company?
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