FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:The following data were included in a recent Papaya Incorporated annual report (in millions):
Net revenue
Net property, plant, and equipment
2015
$ 163,500
15,620
2016
$167,910
17,000
2017
$ 82,225
2018
4,960
$120,119
9,380
Required:
1. Compute Papaya's fixed asset turnover ratio for 2016, 2017, and 2018.
2. During 2018, Bigley reported a fixed asset turnover ratio of 8.1. Was Papaya's turnover better or worse than Bigley's in that year?
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