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During 2016, Ambiance Company reported net revenue of $6,600,000. The company reported net fixed assets of $790,000 on January 1, 2016 and net fixed assets of $970,000 on December 31, 2016. Required: a. Calculate the fixed asset turnover ratio. (Round your answer to one decimal place.)

During 2016, Ambiance Company reported net revenue of $6,600,000. The company reported net fixed assets of $790,000 on January 1, 2016 and net fixed assets of $970,000 on December 31, 2016. Required: a. Calculate the fixed asset turnover ratio. (Round your answer to one decimal place.)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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During 2016, Ambiance Company reported net revenue of $6,600,000. The company reported net fixed assets of $790,000 on January 1, 2016 and net fixed assets of $970,000 on December 31, 2016. Required: a. Calculate the fixed asset turnover ratio. (Round your answer to one decimal place.)
Transcribed Image Text:During 2016, Ambiance Company reported net revenue of $6,600,000. The company reported net fixed assets of $790,000 on January 1, 2016 and net fixed assets of $970,000 on December 31, 2016. Required: a. Calculate the fixed asset turnover ratio. (Round your answer to one decimal place.)
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