The Balance Sheets of Davidson Corporation Reported Net Fixed Assets

question 78

Multiple Choice

The balance sheets of Davidson Corporation reported net fixed assets of $320,000 at the end of 2016.The fixed-asset turnover ratio for 2016 was 4.0,and sales for the year totaled $1,480,000.Net fixed assets at the end of 2015 were:

• A)$470,000.
• B)$370,000.
• C)$420,000.
• D)None of these answer choices are correct.

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